Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

SiriusXM To Buy Pandora, Creating World’s Largest Audio Entertainment Company

Courtesy of ZeroHedge. View original post here.

More than a year after Sirius XM made a "strategic" $480 million investment in Pandora after the music streaming service rebuffed the satellite radio company's deal proposal, it appears Pandora has finally caved.

Pandora

According to Bloomberg, SiriusXM announced early Monday that it had agreed to buy Pandora in an all-stock, tax-free deal valued at about $3.5 billion, with an implied price of Pandora stock of $10.14 per share, roughly a 12% premium over Friday’s closing price. The transaction is expected to close during the first quarter of 2019.

Notably, the deal includes a "go-shop" clause which gives Pandora a month to solicit a better offer.

SiriusXM fell over 3% in premarket trading on the news, while Pandora shares climbed 14%, before fading back…


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!