With contributions from Nicholas Stiege – One of our top picks, Pandora, saw its share price rise, post an all-stock offer from SiriusXM for $10.14 a share. Including the 10.3% price drop of SiriusXM, the offer represents a takeover price of $9.19, slightly above the $8.98 September 24th closing price, but materially below what we believe Pandora’s fair market price is ($13). It appears the market does not believe another bid is coming. Chairman of both SiriusXM and Pandora Greg Maffei and his two SiriusXM board members at Pandora have voted for a deal that we do not believe is […]
Daily Archives: Monday, September 24, 2018 4:56pm
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