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Thread: The Tender Process

  1. #11
    Sirius Roadkill is offline
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    Q4 2010 cc

    Something to think about . . .

    IF (and I did say "if") Liberty elects to tender on or after 2-17-11, will Mel & Company have the Q4 and full-year earnings report ready for filing/distribution before the voting period ends?

    Will they??

    Just saying . . . if I have to vote on a Tender Offer, I would like to think I would be afforded the opportunity to reach a fully informed decision which, as part of any normal due diligence, might include, but is not limited to, a thorough review of Q4 (a traditionally strong period) and full-year earnings reports, right?

    I mean, hey, John Malone & Greg Maffei will have seen the #'s . . . so they know full-well what they are buying.

    Do you think maybe I could take a peek at the #'s so that I know what I am potentially selling??

    What about January #'s? Do we get to hear about those? (John & Greg do)

    What about year-to-date? Can I at least see the OEM #'s for the first 17 days of February?
    Last edited by Sirius Roadkill; 05-22-2010 at 04:47 PM.

  2. #12
    Sirius Roadkill is offline
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    You might want to bone-up on this too . . .

    http://www.mofo.com/pubs/xpqPublicat...etail&pub=7260

    sounds like a sure-fire way to "pay for the votes" of fellow insiders . . . .
    Last edited by Sirius Roadkill; 05-22-2010 at 04:58 PM.

  3. #13

  4. #14
    SchultzyMN is offline
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    ??

    Quote Originally Posted by Sirius Roadkill View Post
    Ok, here is something to think about. Let's just assume that Liberty makes a play for SiriusXM next year. What are the chances of this not passing Government approval? What about the Liberty shareholders not wanting to take on Sirius? Let's be honest, they already have a front row seat and are getting alot of bang for their buck!

  5. #15
    Sirius Roadkill is offline
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    ok, I'll try and play devil's advocat . . . .


    Quote Originally Posted by SchultzyMN View Post
    Ok, here is something to think about. Let's just assume that Liberty makes a play for SiriusXM next year. What are the chances of this not passing Government approval? Liberty already owns 40% of the company and on March 31, 2010 was granted "Early Termination" by the FTC/DOJ under the Hart-Scott-Rodino Act to increase their stake in Siri (to what % we do not yet know but apparently no anti-trust issues were raised). Also unlikely that legal counsel for Liberty-Siri anticipated any anti-trust issues based on structure of the Investment Agreement. What about the Liberty shareholders not wanting to take on Sirius? Let's be honest, they already have a front row seat and are getting alot of bang for their buck! One reason that Liberty Shareholders might want to take on Sirius is for the very same reason that us current Siri shareholders don't want to give it up; we know that this equity continues to be undervalued at current levels, we know that the business model works, we know that auto sales are really just starting to recover and, with a manageable debt structure, we know that the real profits are just around the corner . . . even more bang for the buck.

  6. #16
    Sirius Roadkill is offline
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    consider this from Spencer's recent article:

    "In a newly released research report Wunderlich Securities Matthew Harrigan retained a favorable bias on SIRIUS XM Radio (SIRI) despite a continued Hold rating on the equity. The reason for his bullish outlook is attributable to Sirius XM’s raised guidance as well as bullish projections on auto sales going forward. Auto sector analyst The A.T. Kearney projects 16.8 million cars being sold in 2012, just a year and a half away.

    Harrigan notes that 2012 sales of 16.8 million would actually raise his price target to $3.00 would actually increase our price target to above $3 from $1.25. Harrigan is standing pat on his rating and price target in part because he sees vulnerability to the uncertain U.S. economic conditions."


    http://siriusbuzz.com/wunderlichs-ma...m.php#comments

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