Could we see Pandora and SiriusXM as a team in the future? The Wall Street Journal is reporting that Liberty CEO Greg Maffei floated an offer of $15 a share to buy Pandora. Liberty controls SiriusXM with its 64% stake.
At $15 per share, that would value Pandora at more than $3.4 billion. The Journal reports that the Pandora board considered it more of a fishing expedition than a formal bid. And they believe the company is worth closer to $20 per share. According to the Journal, Pandora shopped itself to Apple and Amazon earlier this year, however CEO Tim Westergren has repeatedly said the company is not for sale.
Read the Wall Street Journal article HERE.