While it's easy to think as soon as a massive deal is announced that all the pieces have come together, often it can take months or even years for a takeover the size of Netflix's Warner Bros. deal to be finalised. Things can change, and recently Netflix has made quite a big alteration to its original terms in the deal.
As reported by Variety, Netflix is now offering to pay fully in cash for Warner Bros. rather than offering around 84% cash to shareholders with the rest being paid in share options. For Warner Bros. shareholders, this is likely going to be the more enticing deal, as in the former arrangement WB shareholders could have lost out if Netflix stocks took a plummet in value.
It's clear to see why Netflix has opted for this change, as it is likely to stop any doubters of the former deal from considering Paramount's all-cash option. We'll know in the next few months how shareholders decide the future of Warner Bros., as they're set to vote on the deal by April.