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Sirius XM Holdings Inc. Message Board

  • bca4me bca4me Mar 5, 2014 9:02 AM Flag

    Faulkner's Article!!

    Again, an article "on point" from S. Faulkner of Seeking Alpha=
    He's stating that A). Those who have "downgraded" Siri, namely Goldman and M.Stanley, did so, + THEN added siri shares to their positions! B). He makes the sound point that, to vote "yes" 4 the current conv. offer, as it stands, would B "stupid" Why would anyone in their right mind vote 4 a "share exchange" @ a rate that would IMMEDIATELY devaluate their equity? C). He makes it clear that Siri share value isn't going ANYWHERE till this Liberty attempt to steal the rest of the outstanding shares is over with. Though HE correctly says that Siri shares will trade tandem to Liberty's shares(@ a slight premium to the "conv. rate), it's still programmed trading, likely done with a flash trading program, the likes of which, Goldman Sachs, co-incidentally has!
    Current LMCA S/V would give the "48%" a conv. rate s/v of aprox 3.43= STUPID!
    More to the article, which makes good reading, BUT, of particular interest, imo, of Seeking Alpha's articles, R the comments that follow these articles, and, this article, IMO, provided a "pattern" of comments, by current siri shareholders; that pattern seemed to indicate that , IF the current conv. rate, OR any, only slightly higher, were to B approved, the 1st thing the shareholders would do is sell all their shares, AND, the very NEXT thing that they would do is cancel ALL of their siri subscriptionS. (many "multi sub" holders)
    Again, Malone thru his absolute greedy approach here, will kill the goose that's currently providing the great golden egg (great fcf.), IF he gets this deal "DONE"

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