It was reported a couple of weeks back that Pandora was looking for a buyer and that the company wanted to close a potential acquisition in under a month. New reports today suggest that Pandora may have found an interested buyer. SiriusXM is reportedly thinking about acquiring Pandora. It’s not surprising that we’re hearing this given that Liberty Media, SiriusXM’s parent company, and Pandora have been talking about a potential deal off and on for the past year.
The New York Post reports that SiriusXM is in “active discussions” to make a bid for Pandora. It has reportedly restarted talks with Pandora’s banks and is discussing the size of a potential offer.
An agreement on price has reportedly not been reached yet but industry insiders are of the view that it could be around $12-13 per share. It merits mentioning here that Liberty Media CEO Greg Maffei has previously said that he believes Pandora is worth around $10 per share.
It was reported at one point last year that Liberty had floated an offer for Pandora at $15 per share but nothing came of that. Whether or not Liberty Media and Pandora are able to reach a deal this time around remains to be seen.
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