Netflix slips as Paramount makes hostile bid for Warner Bros

Streaming giant Netflix's NFLX.O shares fall 2.9% to $97.31

Paramount Skydance PSKY.O makes hostile bid for Warner Bros Discovery WBD.O in deal valued at $108.4 bln, including debt, with the equity offer at $30 per share

Last week, NFLX agreed to buy WBD's TV, film studios and streaming assets in a deal worth $27.75 per share

Up to last close, NFLX has fallen 12.5% this year