An investigation on behalf of investors of Pandora Media, Inc. (NYSE: P) in connection with the proposed takeover was announced and NYSE: P stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/01/2018 -- An investigation was announced concerning whether the takeover of Pandora Media, Inc. by Sirius XM Holdings Inc is unfair to NYSE: P stockholders.
Investors who purchased shares of Pandora Media, Inc. (NYSE: P) and currently hold any of those YSE: P shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Pandora Media, Inc. breached their fiduciary duties owed to NYSE: P investors in connection with the proposed acquisition.
ON September 24, 2018, Sirius XM Holdings Inc. (NASDAQ: SIRI) and Pandora Media, Inc. (NYSE: P) announced an agreement under which SiriusXM will acquire Pandora in an all-stock transaction valued at approximately $3.5 billion. Pursuant to the agreement, the owners of the outstanding shares in Pandora that SiriusXM does not currently own will receive a fixed exchange ratio of 1.44 newly issued SiriusXM shares for each share of Pandora they hold. Based on the 30-day volume-weighted average price of $7.04 per share of SiriusXM common stock, the implied price of Pandora common stock is $10.14 per share,
However, given that at least one analyst has set the high target price for NYSE: P shares at $13.00 per share, the investigation concerns whether the offer is unfair to Pandora Media, Inc. (NYSE: P stockholders. More specifically, the investigation concerns whether the Pandora Media, Inc. (NYSE: P Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Pandora Media, Inc. (NYSE: P) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.