CBS Corporation (NYSE:CBS) Busy in Merger Deal with SpongeBob- Hilton Worldwide (NYSE:HLT)


CBS Corporation (NYSE:CBS) stocks trading ended with 0.02% to $52.85. Sooner or later, Stephen Colbert will get into SpongeBob’s SquarePants. Merger talks between CBS, which broadcasts the “Late Show with Stephen Colbert” and SpongeBob owner Viacom will likely result in a deal despite thorny negotiations over price and whether CBS boss Les Moonves will get to name his own No. 2 exec at the merged company, sources told The Post.

Late previous week, Viacom quickly rebuffed a remove offer from CBS that worth it at $11.9 billion, countering with a demand for $14.7 billion, sources confirmed Monday. But while the $2.8 billion gulf between the two looks wide, one source close to the talks expects a deal to happen somewhere close to the middle, although no announcement is expected this week.


source closely following the merger talks said, “If Viacom launched an open sales process, there would absolutely be buyers. Viacom’s reluctance to engage with suitors other than CBS has, in turn, convinced many insiders that CBS and Viacom are determined to overcome their differences, the source added.

Ailing media tycoon Sumner Redstone, whose holding company National Amusements Inc. has voting control of both CBS and Viacom despite his only owning about a 10-percent economic interest in the media businesses, doesn’t want to let Viacom go, according to one source. The share price of CBS attracts active investors, as stock price of week volatility recorded 2.85%. The stock is going forward to its 52-week low with 7.33% and lagging behind from its 52-week high price with -23.75%.

Hilton Worldwide Holdings Inc. (NYSE:HLT) moved down reacts as active mover, shares a decrease -1.75% to traded at $76.15 and the percentage gap between open changing to regular change was -0.86%. Hilton Worldwide Holdings Inc’s (HLT) main shareholder HNA Tourism Group will sell around 63M shares of Hilton common stock in a secondary offering, making good on signals it would exit its stake in the U.S. hotel operator.

The sale is an attempt by HNA Tourism’s parent, Chinese aviation-to-financial services conglomerate HNA Group Co Ltd, to restructure its far-flung operations and raise cash by selling equity and prime real estate assets. Its restructuring follows a $50 billion acquisition spree over the past two years, which has sparked scrutiny of the firm’s opaque ownership and use of leverage.

Hilton released the stock offering on Monday, while also raising its forecast for first-quarter profit. HNA Tourism held about 82.5 million shares in Hilton as of April 5. HNA Group said last week it would sell some or the entire $6.3 billion stake in Hilton. Hilton, which owns the Waldorf Astoria brand, raised its first-quarter adjusted earnings forecast to 52 to 54 cents per share from a previous range of 43 to 47 cents. The firm’s current ratio calculated as 0.90 for the most recent quarter. The firm past twelve months price to sales ratio was 2.69 and price to cash ratio remained 43.17. As far as the returns are concern, the return on equity was recorded as 75.90% and return on investment was 11.30% while its return on asset stayed at 8.80%. The firm has total debt to equity ratio measured as 3.19.


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