Viacom, CBS Shares Losing Ground
August 13 2019 - 3:09PM
Dow Jones News
By Michael Dabaie
Shares of Viacom Inc. (VIA, VIAB) and CBS Corp. (CBS, CBSA) were
losing ground in afternoon trading after the companies agreed to
merge.
Less-heavily traded Viacom Class A shares were trading down
about 8% to $30. More heavily traded Class B shares of Viacom were
trading up 0.7% to $28.73, but off of highs earlier in the day.
CBS Class B shares were up 0.7% to $48.36, also off of earlier
highs.
CBS and Viacom agreed to combine in an all-stock merger. Each
Viacom Class A voting share and Viacom Class B non-voting share
will convert into 0.59625 of a Class A voting share and Class B
non-voting share of CBS, respectively.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
August 13, 2019 14:54 ET (18:54 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
CBS (NYSE:CBS)
Historical Stock Chart
From Mar 2024 to Apr 2024
CBS (NYSE:CBS)
Historical Stock Chart
From Apr 2023 to Apr 2024