Paramount’s hostile takeover bid is one of the largest

(CNN) — Paramount and Netflix are in a vicious tug-of-war over Warner Bros. Discovery.

On one side of the rope: the suitor WBD’s board signed off on, Netflix, which announced a $72 billion deal last week. On the other side, the suitor the board turned down, Paramount, which is resorting to a tactic known as a hostile takeover.

A hostile takeover occurs when a company attempts to acquire another by going around the takeover target’s management and making an appeal directly to shareholders.

While friendly, mutually agreed upon acquisitions between two companies tend to have a higher success rate, hostile takeover bids, though riskier and often costly, can prove successful, too.

If Paramount’s $30-per-share, all-cash bid worth $108 billion (including debt) for complete ownership of WBD