After the merger- the value of sirius will make up about 35 percent of the combined company- so it should be worth about 1/3 the price of liberty- now giving malone a discount because of the debt of sirus which is offset by some of the nol, i figure a fair offer is 20/share based on the current liberty stock price. Hey malone- you still get a good deal- its just that you wont screw the othere 48 percent .
The independent board needed to hire a lawfirm to determine if the offer of valueless class c shares to the 48 percent of the shareholders of sirius was a decent offer. the class c shares have less value then monopoly money. they have zero dollars in value.
Twc said it wouldnt let malone steal the company.
i guess the sirius independent board has no problem with malone getting the company for phoney class c shares of nothing.
John malonen has seized and personlly controlls sirius and it is his company- its not supposed to be that way. the difference between the controlling 52 percent controlled by malone and teh 48 precent that keeps them out of eqaul power is 2 percent. that 2 percent should not equate to malone destroying the other 48 percent.
malone needs to be taught a lesson with regard to good faith and fair dealings and fiduciary responisibiliies as does the boar of dirrectors and so called independent board.
The 48 percent minority stake is only 2.1 percent away from a controlling interest.
malone thinks he "owns" the company for that "controlling interest" he has voted himself dividends disguised as stock repurchase plans to the detriment of the monority shareholders.
Remember the delay by fcc to approve merger- that was inflicted by forces outside of sirius- and the reason was the nab wanted to destory sirius and had its henchmen at fcc do their bidding.
the independant board delay is inexplicable- do they too want to destroy sirius shareprice by dragging out their deliberations on an offer which should have been rejected out of hand. - twc rejected malones low ball offer immeadiately and got a better deal. we can only conclude the board by the delay has already breached its fiduciary duties.
Folks- the majority of the minority of shareholders must approve before its approved- that means us- and not liberty. we are going to vote no unless the independent board- negotiate a 20/shre deal
Malone's deal is you get 1:11 reverse split to worthless class c stock with no voting rights - in exchange- he gets si rius - everything- the satellites- the cash - everthing-
we get worthless paper that will be shorted to zero.
f. u. mr. Malone
Someone should make a bd for 51 percent of company for 20 bux per share.
malonen whould be forced to abandon his plan- because its better plan for the shareholders and he can not use his position to harm other shareholders-
Remember the shareholders who tried to sue malone for the rotten deal mel made were thrown out of court - not because they didnt have a claim- but because they didnt move quick enough. The cour said they should have come to court to complain asap.
This selfish action where he takes all the cash and assests of sirius in exchange for .07 non voting shares of liberty must be stopped.
this is outrageous-
A MAJORITY OWNER STILL HAS A FIDUCIARY DUTY TO THE MINORITY SHAREHOLDERS.
I call takding away voting rights- favoring liberty shareholders over sirius shareholders and giving worthless paper in exchange for a 27 billion dollar company a breach of fiduciary duties.