Sirius XM to take Sirius XM Canada private

Fri May 13, 2016 6:31am EDT
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May 13 (Reuters) - Sirius XM Canada Holdings Inc said on Friday that Sirius XM Holdings Inc, its biggest shareholder, along with other shareholders would take the company private for about C$351 million ($273 million).

Sirius XM Canada's shareholders will receive C$4.50 per share in cash or stock for each share they own, representing a premium of 6.4 percent to the stock's closing price on Thursday.

Sirius XM Canada had an equity value of about C$443 million as of Thursday's close.

Sirius XM Holdings owned about 32 percent of Sirius XM Canada as of Dec. 9, according to Thomson Reuters data. ($1 = C$1.29) (Reporting by Anet Josline Pinto in Bengaluru; Editing by Savio D'Souza)