Is Live Nation Entertainment, the newly merged Ticketmaster and Live Nation corporations about to be sold off just days after merging?
Liberty Media Corporation has issued a partial tender offer to take up to 34,500,000 shares of the new Live Nation Entertainment business.The Ticketmaster and Live Nation merger was finally given the okay this week so Liberty Media is acting fast.
The 34.5 million shares is valued at $414 million at $12 a share. This would make Liberty Media a major shareholder in the business.
Live Nation Entertainment today issued a statement to say that it will consider the offer and as a warning added “In the interim, Live Nation requests that its stockholders defer taking action with respect to Liberty Media's proposed offer until they have been advised of Live Nation's position with respect to the offer”.
Music-News.com
