Deals
Corvex Petitions to Take Future Stake in Pandora to 14.99%
- Activist investor has held talks with Pandora on idea of sale
- Pandora said to have hired Centerview to review options
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Corvex Management LP, the hedge fund run by Keith Meister agitating for a sale of Pandora Media Inc., petitioned U.S. regulators for permission to increase its stake in the internet radio company to as much as 14.99 percent in the future without further approval.
The activist investor, which disclosed a 9.9 percent stake in Pandora in May, made public its petition to the Federal Communications Commission in a filing Thursday. Pandora didn’t immediately respond to a request for comment.