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SIRI / Liberty Media proposes combining Sirius XM and Liberty Sirius XM tracking stock to form New Sirius XM

Shares of Liberty Media Corp.'s Liberty Sirius XM tracking stock LSXMA, +0.80% shot up 11.6% in premarket trading, while Sirius XM Holdings Inc.'s stock SIRI, -0.50% slid 4.5% toward a three-month low, after Liberty Media said it proposed that the two stocks combine to form a new public company named New SiriusXM. Under terms of the proposed deal, Liberty would separate LSXM into a newly formed subsidiary of Liberty, with holders of each series of LSXM common stock receiving shares of a single series of shares based on each underlying share of SiriusXM common stock held by the new subsidiary being exchanged for 1.05 shares of common stock of New SiriusXM. Read More

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Liberty

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Sirius

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SIRI

Posted: Sep 26 2023, 07:34

Author Name: Market Watch

SIRI News

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