Paramount down after Edgar Bronfman submits about $4.3 bln bid for co
** Shares of media giant Paramount Global PARA.O fall 2.9% to $10.75
** Edgar Bronfman Jr. on Monday submitted a roughly $4.3 bln rival bid to take over PARA through the acquisition of National Amusements, the family holding company that owns a controlling stake in the media company
** Bronfman's offer includes $2.4 bln in debt and equity for National Amusements
** The offer threatens to undo a planned acquisition by David Ellison’s Skydance Media, which signed a deal in early July. The agreement included a 45-day “go-shop period”
** The board committee could extend the go-shop deadline to Sept. 5, to evaluate the offer
** Bronfman's deal "does not include the material skydance premium to PARA shareholders on 50% of their stake" Jeffery Wlodarczak analyst at Pivotal Research Group
** Analyst says the premium was supporting Skydance's bid for PARA despite the co's dour outlook
** Up to last close, PARA stock down 25%, YTD
Reporting by Priyanka.G
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