LAGOS HOTEL, 3 OTHER PROPERTIES FORFEITED BY DRUG KINGPINS AUCTIONED AT N6.1BILLION.(PHOTOS). #PRESS RELEASE.

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 Lagos hotel, 3 other properties forfeited by drug kingpins auctioned at N6.1billion *- It’s a clear message that cartels won’t be allowed to enjoy proceeds of their criminal trade, says Marwa*  A Lagos hotel and three other properties seized from drug kingpins by the National Drug Law Enforcement Agency (NDLEA) and forfeited to the Federal Government through court processes have been auctioned for the sum of Six Billion One Hundred and Forty- Eight Million Nine Hundred and Sixty-Four Thousand Naira (N6,148,964,000.00) only. This was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country. While bidders who offered above reserved prices emerged winners of four of the listed properties, bids for four others failed because none offered up to the reserved prices. Announcing the winning bids at the bid opening ceremony attended by representatives of ICPC, Civil Society Organisations, auctioneers and bidders at the NDLE...
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WARNER BROS. BOARD URGES SHAREHOLDERS TO REJECT PARAMOUNT BID AND BACK NETFLIX OFFER. (PHOTO).

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 Warner Bros. board urges shareholders to reject Paramount bid and back Netflix offer

Warner Bros. Discovery’s board of directors has unanimously urged shareholders to reject a takeover bid from Paramount Skydance, throwing its full support behind an earlier offer from Netflix. In a statement released Wednesday, the board said it had completed a detailed review of Paramount’s recently launched tender offer and determined that it failed to deliver sufficient value while exposing shareholders to substantial risks and potential costs. Board chair Samuel A. Di Piazza Jr. said the assessment led directors to conclude that the Paramount proposal was not in the company’s or investors’ best interests.

The board emphasized that Netflix’s bid represents a superior and more certain option for shareholders, citing clearer value and fewer risks compared with the competing offer. Market reaction reflected investor caution, with Warner Bros. Discovery shares dipping in early trading while Netflix shares rose and Paramount’s stock declined. Netflix welcomed the recommendation, with co-CEO Ted Sarandos saying the process produced an outcome that benefits consumers, creators, investors, and the wider entertainment industry, and reaffirming that the merger agreement remains the strongest path forward for shareholders.

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