Law360, New York (December 14, 2016, 7:02 PM EST) -- Liberty Media Corp. said Wednesday that it has agreed to sell $1.55 billion in newly issued stock to a consortium of investors to help fund its planned $4.4 billion acquisition of global auto racing business Formula One.
Liberty Media will issue 62 million shares of Series C Liberty Media common stock at a price of $25 per share, according to a statement announcing the investment agreement. Coatue Management LLC, the D. E. Shaw Group, JANA Partners LLC, Ruane Cunniff & Goldfarb Inc., Soroban Capital Partners LP, SPO Advisory Corp. and Viking Global Investors LP have agreed to purchase the shares, the...
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