Deals and IPOs

CBS, Viacom had agreed on price for deal before lawsuit, sources say

National Amusements responds to CBS lawsuit calling it 'outrageous'

CBS and Viacom had reached a deal in price for a merger before the ongoing disagreement over leadership of the combined company ripped the two apart, according to sources familiar with the situation.

The agreed upon price was a ratio of 0.6135 CBS share for every Viacom Class B share.

CBS sued Shari Redstone's National Amusements, the controlling shareholder of both companies, on Monday to block her from interfering at a special board meeting where the merger would be considered.

Redstone could countersue CBS directors for breach of loyalty, the sources said.