NEW YORK, Jan. 6, 2014 /PRNewswire/ -- Tripp Levy PLLC, a
leading securities and shareholder rights law firm that represents
shareholders throughout the nation, announces that it is
investigating the proposed acquisition of Sirius XM Holdings, Inc.
(SIRI) by Liberty Media Corp. Liberty, which owns a majority
stake in Sirius XM, announced that it would offer to buy out the
minority shareholders in Sirius XM. Liberty said each share of
Sirius XM common stock would be converted into 0.0760 of a new
share of Liberty's Series C common stock, the equivalent of
$3.68 a share. That offer is just
barely above Sirius XM's closing price of $3.57 on Friday, January
3, 2014, and below the $4.16
per share price the stock traded at last year and well below the
$5.80 per share price that analysts
projected that Sirius XM stock is worth.
The investigation concerns whether the board of directors of
Sirius XM, which is controlled by Liberty, will engage in a full
and fair process and uphold their fiduciary duties to insure that
shareholders of Sirius XM obtain the maximum value for their
shares.
If you own Sirius XM common stock and wish to obtain
additional information about the potential acquisition of Sirius XM
and how it may affect your rights as a shareholder, at no cost or
expense, please contact us at:
Tripp Levy PLLC
New York, New York
Toll Free: 1-877-772-3975
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC has extensive experience in mergers and
takeovers and has assisted in the recovery of hundreds of millions
of dollars for shareholders. Attorney advertising.
Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC