Deals
Sirius XM Investors Lose Bid to Halt Liberty Media Takeover
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Sirius XM Radio Inc. shareholders lost a bid to stop Liberty Media officials from seeking to acquire a controlling stake in the satellite-radio provider after a judge denied their request to block further purchases of Sirius shares.
Delaware Chancery Court Judge Leo Strine refused to bar Liberty Media Chairman John C. Malone from adding to his 48 percent Sirius stake despite shareholders’ concerns that the billionaire had started what they called in court papers a “creeping takeover” of the U.S.’s largest satellite broadcaster.