5 Stocks With Effortless Gains

3. Paramount Skydance Corp. (NASDAQ:PSKY)

Paramount Skydance soared for a 6th straight day on Tuesday, climbing 10.66 percent to close at $10.90 apiece, as investors gobbled up shares following news that it earned the backing of three Middle Eastern funds for its $110-billion acquisition of Warner Bros Discovery.

A report by the Wall Street Journal, citing people privy to the matter, said that Paramount Skydance Corp. (NASDAQ:PSKY) inked equity commitments amounting to $24 billion from three sovereign wealth funds led by Saudi Arabia to help back its takeover of Warner Bros.

Of the total, Saudi Arabia’s Public Investment Fund pledged $10 billion, with the support of Qatar Investment Authority and Abu Dhabi’s L’imad Holding.

Apart from the Persian Gulf-based investment firms, Paramount Skydance Corp. (NASDAQ:PSKY) also secured a $45.7 billion backing from billionaire Larry Ellison and his trust, as well as RedBird Capital Partners, which agreed to invest $250 million.

Paramount Skydance Corp. (NASDAQ:PSKY) expects to close the acquisition in the third quarter of the year.

In the event that the transaction is not closed by September 30, Paramount Skydance Corp. (NASDAQ:PSKY) would pay each WBD shareholder a $0.25 per share of what it called a “ticking fee” for each quarter until the successful closing of the transaction.