The board of directors of struggling satellite radio provider Sirius XM has approved a “stockholder rights plan” that would effectively prevent the weakened company from hostile takeovers. According to the terms of the plan, known in financial circles as a poison pill, any attempt to buy up more than 4.9 per cent of Sirius’ stock without board approval would trigger limitations on the buyer’s voting rights as well as their stake in the company. The plan includes an exception for Liberty Media, which already owns a 40 per cent stake. Sirius execs hope to win shareholder approval for the plan with a vote on June 30th.

……

Other posts by :

1. Impressive Starlink deployment rate
2. Bank: Space industry worth $1tn by 2040
3. Xona Space wants 259 LEO satellites
4. 36 major airlines now committed to Starlink
5. Quilty: Top 5 Washington Satellite show takeaways
6. Space Wars: Starlink vs Amazon Leo
7. Eutelsat seeks ISRO deal for launches
8. Virgin Galactic sets prices for space tourists
9. Devas vs Antrix rumbles on

Categories: Articles, Business, Results