Or it was rehashed from what was already known from before........and repackaged to scare people.Originally Posted by Siriusowner
SIRIUS XM SATELLITE RADIO FORUM
Or it was rehashed from what was already known from before........and repackaged to scare people.
2 trades for 917,000 went in right at close for .055
Don't you think there's already been enough ANALIZING with this stock?
Now analysis... that's another story...
SIRI closed @ .055 on volume of 276,643,071 shares traded.
Last edited by Demian; 02-11-2009 at 06:50 PM. Reason: typo
it closed at .055
thanx Demian is it 5:00 yet
http://www.reuters.com/article/marke...0090211?rpc=44
MFC Global, Barclays among big Sirius XM debtholders
By Walden Siew
NEW YORK, Feb 11 (Reuters) - MFC Global Investment Management and Barclays Global Investors may be among large debtholders of Sirius XM Radio Inc (SIRI.O) targeted by EchoStar Corp (SATS.O) in a potential bid to control the satellite radio company, investors say.
Deutsche Asset Management, Putnam Investment Management, MFC, manager of various John Hancock funds and Tattersall Advisory Group were among the biggest holders of Sirius's actively-traded 9.625 percent notes due in 2013, according to Thomson Reuters data and company filings as recent as November.
Bondholders contacted by Reuters declined to comment or say whether they have been approached by EchoStar chief Charlie Ergen, who reportedly has been accumulating Sirius debt in a potential bid to control the company. For details, please double-click: [ID:nN10305535]
"He may be approaching other bondholders with the idea of buying their bonds or coordinating their action," said Jean-Marie Eveillard, co-manager of First Eagle Global Fund, under the investment advisory firm Arnhold & S Bleichroeder Advisers. "We look at it as a positive."
Some large bondholders of Sirius XM debt told Reuters they welcomed a potential takeover of the company by EchoStar.
"It looks like Ergen is interested and in an indirect way trying to take control of the company," said Eveillard.
He also noted he holds Sirius bonds, but has not been approached by EchoStar representatives to buy up any debt.
"He knows the business, Ergen is an astute businessman and if he can find a way to reduce debt, that should be good for bondholders and investors," Eveillard said. "We would not mind being equity holders once he controls the business."
Sirius' 2013 notes have been among the most actively traded since The Wall Street Journal reported last week that EchoStar holds about $400 million of Sirius XM debt. The satellite radio company led by Mel Karmazin is scrambling to raise $175 million by a Feb. 17 payment date.
CreditSights, a research firm, said that 2013 bond may be most advantageous to EchoStar because it would have a more senior claim in the event of any bankruptcy.
The 2013 notes soared to more than 40 cents on the dollar on Monday before falling to about 37 cents on Wednesday with yields of almost 42 percent, according to MarketAxess data.
David Novosel, a credit analyst with Gimme Credit, said if the bonds reach even more distressed levels, it may mark an opportunity for EchoStar to accumulate even more debt.
"My guess is EchoStar won't be too aggressive because they can wait and get this on the cheap," Novosel said.
Other holders of the company's debt include AllianceBernstein, Eaton Vance Management, OppenheimerFunds, Fidelity Management & Research Co and Seattle-based Edge Asset Management, according to Thomson Reuters data based on the most recent company filings.
"We have material insider information and cannot comment on the deal," said one John Hancock portfolio manager who declined to be named.
Other company representatives did not return phone calls seeking comment or declined to comment. (Additional reporting by Karen Brettell; editing by Gary Crosse)
Y'all know me. Do you want my nize answer or my sarcastic and nasty one ?
Again, the question is why ?
Karmazin stuck between rock and EchoStar
http://www.crainsnewyork.com/article...E/902119966/-1
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