NEW YORK — Viacom International has agreed to provide confidential company information to a firm that has challenged a management-led group's plan to buy out the cable, broadcast and television programming company.
Viacom's agreement to disclose the information to National Amusements Inc. was made public in a filing with the Securities and Exchange Commission. National Amusements' filing provided no details on the purpose of the disclosures; neither Viacom nor National Amusements would comment.
One analyst, John Tinker of Bear, Stearns & Co. in New York, saw the disclosure as a signal that the management-led group may now be willing to sweeten its buyout offer and thus appease National Amusements Chairman Sumner Redstone, who has objected to the initial price.
"The question is, what is his price?" said Tinker. "They're giving him some inside information so they can find out."