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Why is everyone reporting this deal is worth 3.5B. It's worth 2.5B.



Pandora's press release says so http://blog.pandora.com/us/siriusxm-to-acquire-pandora-creat... "we announced that we’ve entered into an agreement to be acquired by SiriusXM, in an all-stock transaction, valued at approximately $3.5 billion"

They're presumably paying a premium on the current stock price.


Do the math yourself.




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