Pandora Shareholders Overwhelmingly Approve SiriusXM $3.5 Billion Buyout
Pandora shareholders approved SiriusXM’s $3.5 billion all-stock buyout (see 1809240030), said Pandora Tuesday. Owners of about 75 percent of Pandora stock voted 97 yes at a special meeting, and the transaction is now expected to close soon, said the streaming…
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media company. Pandora CEO Roger Lynch will leave at the closing, as will General Counsel Steve Bene, Chief Financial Officer Naveen Chopra and Chief Human Resources Officer Kristen Robinson. SiriusXM CEO Jim Meyer will head the combined entity, Pandora said. Some analysts wrongly predicted Pandora shareholders would reject the deal as "inadequate" (see 1809250021). SiriusXM reports 2018 results Wednesday before the markets open.