“Monday’s deal gives the pair a market value of about $34 billion, topping Spotify’s $31.2 billion and follows through on Sirius’ purchase of a 15 percent preferred-stock stake in Pandora for $480 million last year,” Reuters reports.
“Pandora shareholders will receive a fixed-exchange ratio of 1.44 newly-issued SiriusXM shares for each share they hold,” Reuters reports. “The transaction is expected to close in the first quarter of 2019.”
Read more in the full article here.
MacDailyNews Take: Seems like a no-brainer acquisition for SiriusXM.
Simple mathematics makes it blatantly obvious what’s going to happen to Pandora. – MacDailyNews, September 24, 2013