According to Bloomberg, an investment group named Apex has made an unexpected bid for Paramount Global, the parent company of CBS and MTV. Apex's interests span various sectors, including banking, cryptocurrency, and credit card processing. Representatives from Paramount and National Amusements have not commented on the offer, and a spokesperson for Apex has yet to respond. Paramount shares saw a 3% increase, reaching $11.60 in New York trading.

Earlier this month, Paramount agreed to merge with Skydance Media, an independent film and TV producer led by David Ellison, son of Oracle Corp. founder Larry Ellison. The Ellison group is investing $8 billion in the deal. As part of this agreement, National Amusements, Shari Redstone’s family company, decided to sell its controlling interest in Paramount. The parties involved agreed to a 45-day period to seek better offers. Apex has stated it is prepared to cover Skydance’s $400 million breakup fee if necessary.

On Wednesday, Apex announced its offer to purchase National Amusements’ voting and nonvoting shares in Paramount for $35.03 and $23.28 each, respectively. Additionally, Apex is willing to buy the remaining voting shares from other investors at $35.03 per share. The company also plans to acquire 69% of the nonvoting Paramount stock at the $23.28 per share price offered to National Amusements. Furthermore, Apex is offering to assume Paramount’s approximately $15.8 billion in debt and inject $10 billion into the company for future projects.

Apex mentioned in a statement that its interests include banks, credit unions, trust companies, and credit card processing. Despite the offer, some traders have expressed skepticism. Cabot Henderson, a merger arbitrage specialist at JonesTrading, remarked, “It lacked credibility that no one knows anything prior about a buyer who is willing to pay $43 billion.”