Satellite radio company Sirius XM (SIRI) is seeking to invest in internet music provider Pandora Media (P) , Reuters reported, citing people familiar with the matter.
Sirius XM is negotiating a private investment in public equity after talks about Sirius XM acquiring Pandora in its entirety ended unsuccessfully over price disagreements, the sources told Reuters.
KKR's agreement gave Pandora 30 days to look for an alternative deal. This period expires on Thursday, and so Sirius XM was racing late on Wednesday to beat that deadline and clinch its own investment in Pandora, the sources told Reuters.
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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