CBS (CBS) delivered orally on Friday a takeover proposal for Viacom (VIAB) that offered 0.55 shares of CBS for each Viacom share, CNBC’s David Faber reports, citing sources. The offer was immediately rejected and Viacom is expected to put forth a counter, according to Faber. Viacom believes the “market price ratio” is 0.62 per CBS share and wants above that ratio, Faber reports. He notes that Viacom believes the merger would create $1B in cost synergies. In addition, Shari Redstone remains committed to Viacom CEO Bob Bakish being the number two at the combined company, Faber added.