Investing.com - Financial Markets Worldwide
🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

UPDATE 1-Sirius XM Canada Holdings says approached for deal

Published 2016-02-12, 10:39 a/m
© Reuters. UPDATE 1-Sirius XM Canada Holdings says approached for deal
SIRI
-
XSR
-

(Adds details, shares)
Feb 12 (Reuters) - Satellite radio provider Sirius XM Canada
Holdings Inc XSR.TO , whose biggest shareholder is U.S.-based
Sirius XM Holdings Inc SIRI.O , said it had been approached for
a potential deal and was in early-stage talks.
The news comes a day after a Canadian newspaper reported
that the top shareholders of Sirius XM Canada Holdings were
planning to take the company private in deal that could value it
at about C$750 million ($538 million).
The Globe and Mail newspaper, citing a person familiar with
the matter, said on Thursday that the cash offer price for
Sirius XM Canada Holdings would be C$4.25 per share.

Shares of Sirius XM Canada Holdings, which owns Sirius XM
Canada Inc, rose 16 percent to C$4.26 in morning trading on the
Toronto Stock Exchange.
Sirius XM Holdings owns about 32 percent in Sirius XM Canada
Holdings, with Canadian Broadcasting Corp holding about 12.5
percent. Slaight Communications Inc and Canadian businessman
John Bitove are its other major shareholders.
More than 37 percent of Sirius XM Canada Holdings'
outstanding shares are held by the public, according to Thomson
Reuters data.
Sirius XM Holdings shares rose 1 percent to $3.42 on the
Nasdaq.
($1 = C$1.39)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.