Questions have been raised regarding the legitimacy of the offers made by Apex Capital Trust in response to the Paramount Global acquisition bid, a source familiar with the matter told Reuters.
On Wednesday, Apex released a press statement claiming it had submitted a $43 billion all-cash offer to acquire Paramount, a proposal that challenges the deal made with David Ellison’s Skydance Media.
Steven Weiss from Rubenstein Public Relations, whose name and contact information appeared in Apex Capital Trust's press release, told Reuters via email on Wednesday morning, “Yes, it is true.”
Weiss did not respond to requests for financial documents to support his statements.
Reuters could not independently verify the existence of Apex or its unnamed subsidiary.
Business Wire, a service that distributes press releases to news media, took down the press release on Wednesday around 3 p.m. without giving a reason. Business Wire also did not respond to requests for comment. Reuters retracted the initial report released on Wednesday after learning that parties advising on the Paramount bid questioned the authenticity of the offer.
A source familiar with the matter told Reuters that Apex Capital Trust had shown interest in acquiring Paramount months ago, but the parties assessing the bids could not confirm the legitimacy of the participants nor verify if they had the financial resources to complete the transaction.
