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6 Responses to “Bullet Point: Liberty Proposes To Absorb SiriusXM”
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Are SIRI shares going to open lower Monday? Since they gave an offer already, is there going to be any trading of SIRI shares?
The offer is 3.68. It should not trade lower than that in fact it should trade higher since this is a low ball POS offer.
Just a guess on my part but don’t see a reason for it to trade at a discount to a low ball offer.
It’s not really an offer it’s a done deal. Liberty is the controlling shareholder. There will be no negotation
W Matthew Trust
17 mins ago
It’s not really an offer it’s a done deal. Liberty is the controlling shareholder. There will be no negotation
If it is that simple why wouldn’t they just buy the rest for $ 1.00 a share?
There is more to it than “done deal”
Yes I was wrong. This could get interesting
SiriusXM’s Board of Directors intends to form a Special Committee of independent directors to consider Liberty’s proposal. Liberty’s proposal noted that the transaction will be conditioned on the approval of both a Special Committee and a majority of the public stockholders of SiriusXM, other than Liberty. Liberty also noted that the approval by the Liberty shareholders of the issuance of the Series C common shares in the proposed transaction would also be required under applicable Nasdaq Stock Market requirements.
Im assuming that there will be an increase in the offer at some time–Maybe around $4 or so
Lets see on Monday what the smart money thinks