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Stock Market & Financial Investment News

News Breaks
January 24, 2014
16:14 EDTSIRI, LMCASirius XM to defer stock buyback from Liberty Media until April 25
SiriusXM (SIRI) announced that the special committee of its board has retained Evercore Group to act as its financial advisor and Weil, Gotshal & Manges to act as its legal counsel to assist and advise the special committee in connection with its evaluation of Liberty Media Corporation's (LMCA) proposal to acquire all of the outstanding shares of common stock of SiriusXM not owned by Liberty Media. SiriusXM formed the special committee, comprised entirely of independent directors not affiliated with Liberty Media, following SiriusXM's receipt of Liberty Media's proposal on January 3. The special committee intends to work with its financial and legal advisors to, among other things, review and evaluate whether the Liberty Media proposal is in the best interests of SiriusXM and its stockholders, other than Liberty. In addition, in light of SiriusXM's receipt of Liberty Media's proposal, the special committee has authorized SiriusXM to enter into an agreement with Liberty Media to defer the previously scheduled $240M repurchase of shares of SiriusXM common stock from Liberty Media from January 27 to April 25. As a result of this deferral, SiriusXM will repurchase $340M of its shares of common stock from Liberty Media on April 25 at a price of $3.66 per share.
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August 28, 2014
07:07 EDTSIRISirius XM Q3 results poised to beat expectations, says Piper Jaffray
Piper Jaffray expects Sirius XM to benefit from strong August auto sales and a higher percentage of SiriusXM-enabled used vehicles sold in August versus year-ago levels. The firm thinks the company could raise its guidance, and it reiterates a $5 price target and Overweight rating on the shares.
August 25, 2014
16:47 EDTLMCAD. E. Shaw & Co reports 5.0% passive stake in Liberty Media
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