Originally Posted by
homer985
After reading the article - everything should make more sense now. It is as I believed... that Liberty is merely protecting its invesment in Sirius. So that someone doesn't come in and buy up 5% and combine it with Liberty's 40%~49.9% and trigger the deeper restrictions. So Sirius put in the Poison Pill to prevent it from happening.
I haven't made the connection of the significance of the tender offer between years 2 and 3 yet and why they would be forced to make a tender offer on the remaining shares and how that would effect the NOL's... but as you can see, everything is tied together now.
The Liberty investment, the NOL's, the 49.9% ownership limit and the new Poison pill... they're all tied together. And so is the eventual overtaking by Liberty... whether 51% or 100% - it's pretty much inevitable now. For Liberty to be able to cut their tax bill by $2BB in the future from this investment? Hello???
BTW, not to be a dick... but this old article confirms that Brandon is wrong again in his latest blog. Sorry Brandon.
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