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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Here’s What Pandora Shareholders Are Promised in the Sirius Deal

Naomi Gray
Updated
Here’s What Pandora Shareholders Are Promised in the Sirius Deal

Pandora (P) has entered an agreement to sell itself to Sirius XM Holdings (SIRI) in an all-cash deal expected to close by April next year. Under the deal, Pandora shareholders will receive 1.44 newly issued Sirius XM shares for every Pandora share they hold. Since the deal values Pandora at $10.14 per share, Pandora shareholders are promised a premium of 12% based on Pandora’s closing price on the trading day before the deal was announced.

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