Close
Close

Published

Pandora pampered with $150m injection to entice buyer

Troubled US internet radio company Pandora is finally preparing for a takeover after posting results for another loss-making quarter, over a year since vultures began circling. Pandora has received a $150 million investment injection from private equity firm KKR this week – to balance the books in the hope that a fitting bidder will swoop in. Liberty Media’s SiriusXM has long been the front runner to acquire Pandora, and there were heavy rumors from inside sources that SiriusXM placed a $3.4 billion offer on the table last year, when Pandora’s market cap was $3 billion. Fast forward to this week, Pandora’s market cap sits at around $2.6 billion, but the company’s share price is up slightly following KKR’s cash –…

Close