Sirius Investors Challenge Liberty's $23B Takeover Bid

Law360, Los Angeles (January 7, 2014, 8:22 PM EST) -- Sirius XM Holdings Inc., Liberty Media Corp. and others were hit Tuesday with a class action in New York court by an investor who seeks to stop a proposed $23 billion deal that would allow Liberty to take full ownership of the satellite-radio carrier.

The suit comes less than a week after Liberty announced the deal in a statement and U.S. Securities and Exchange Commission filings. Under the proposal, Liberty, which is controlled by billionaire John Malone and already has a 53 percent majority stake in...
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