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Stock Market & Financial Investment News

News Breaks
January 3, 2014
16:38 EDTLMCA, SIRILiberty Media proposes to make Sirius XM subsidiary of company
Liberty Media (LMCA) announced that it has made a proposal to Sirius XM (SIRI) that outlines the terms by which Sirius public shareholders would become shareholders of Liberty in a tax-free transaction in which each share of Sirius common stock would be converted into 0.0760 of a new share of Liberty Series C common stock, and, immediately prior to such conversion, Liberty intends to distribute, on a 2:1 basis, shares of Liberty’s Series C common stock to all holders of record of Liberty’s Series A and B common stock to create a liquid trading market for Liberty’s Series C common stock. Upon the completion of the proposed transaction, Liberty expects that Sirius’ public shareholders would own approximately 39% of Liberty’s then-outstanding common stock. The proposed exchange ratio of 0.0760 would value Sirius common shares at approximately $3.68 per share based on closing prices of Liberty’s Series A shares on January 3. This exchange ratio represents a 4.5% premium to the exchange ratio implied by the closing prices of Liberty’s Series A and Sirius’ shares on January 2 and a 3.1% premium to the exchange ratio implied by the closing share prices of January 3.
News For LMCA;SIRI From The Last 14 Days
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October 28, 2014
07:04 EDTSIRISirius XM sees FY14 revenue $4.15B, consensus $4.15B
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07:03 EDTSIRISirius XM reports Q3 net subscriber additions of 432,817
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07:02 EDTSIRISirius XM reports Q3 adjusted EBITDA up 29% to $381M
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07:02 EDTSIRISirius XM reports Q3 EPS 2c, consensus 2c
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October 27, 2014
15:36 EDTSIRINotable companies reporting before tomorrow's open
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October 16, 2014
05:50 EDTSIRIStocks with implied volatility movement; SHPG SIRI
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