SIRI Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Proposed Combination of Sirius XM and Liberty SiriusXM Tracking Stock
MONSEY, N.Y., Sept. 26, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed combination of Sirius XM Holdings, Inc. (Nasdaq: SIRI) (“Sirius”) and the Liberty SiriusXM Group (Nasdaq: LSXMK) (“LSXM”) to form a new consolidated public company.
- MONSEY, N.Y., Sept. 26, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed combination of Sirius XM Holdings, Inc. (Nasdaq: SIRI) (“Sirius”) and the Liberty SiriusXM Group (Nasdaq: LSXMK) (“LSXM”) to form a new consolidated public company.
- SplitCo would then combine with SiriusXM to form New SiriusXM, with the minority shareholders of Sirius receiving shares in New SiriusXM on a one-for-one basis.
- Under the proposed combination, minority shareholders of Sirius would collectively own approximately 16% of New SiriusXM, and the previous holders of LSXM common stock would own the remaining 84%.
- “While the complex terms of the combination have only been proposed at this time, we are investigating whether the proposed combination would be fair to Sirius stockholders, especially in light of the involvement of a Special Committee,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter.