Pandora, SiriusXM Acquisition Talks Heat Up… Again
Just weeks after talks that would lead to a SiriusXM acquisition of Pandora fell apart in a public dispute of stock value, the parties are back at the table.
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SiriusXM and Pandora are back in serious talks about an acquisition of the music streamer. The New York Post first broke the story, and Hypebot has confirmed that both parties are working again to make a deal happen prior to Pandora's self-imposed June 9th deadline.
The Post sources say that the purchased price could go as high as $12-$13. But other source put it closer to $10. Pandora shares closed at $8.93 on Wednesday.
“Given the high level of shareholder involvement and what we see as significant strategic value in Pandora’s user base, advertising inventory, data, and home screen position, we believe the likelihood of strategic action remains high,” Goldman Sachs analyst Heath Terry wrote in the note to investors, according to Barron’s.
