Deals
Sirius Shares Climb Above Buyout Offer From Malone’s Liberty
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Sirius XM Holdings Inc. shares climbed above the buyout offer from its majority owner Liberty Media Corp., signaling that investors expect the bidder to sweeten its offer.
Liberty, which already owns about half of the satellite-radio company, made an offer last week valuing the rest at $3.68 a share, or about $10.6 billion. The stock closed at $3.83 today in New York, more than 4 percent higher than the bid by Liberty, an investment company controlled by billionaire John Malone.