Whether or not Pandora makes profit at this point doesn't change the fact that Apple will still have to fight for the tens of millions of loyal Pandora users. Regardless of how *wonderful* Apple is, that's gonna take some time---even if they do a good job with their rumored service.
But why bother getting into that fight if you can just take them over and immediately have a MASSIVE leg up on every other service? Pandora's problem is NOT how to please listeners, as they do that better than anybody.
Maybe they're working a deal out behind closed doors and ol' Joe gave #$%$ guidance to help lower the price for a friendly takeover.