July 19, 2016 / 10:12 PM / 3 years ago

Sirius XM Canada 'strongly disagrees' with shareholder complaint

(Reuters) - Satellite radio service provider Sirius XM Canada Holdings Inc XSR.TO said it “strongly disagrees” with a complaint filed by some shareholders in connection with the company’s plan to go private.

Sirius XM Canada agreed in May to be acquired and taken private by SiriusXM Holdings Inc (SIRI.O), its biggest shareholder, along with two of its top Canadian shareholders.

The shareholder complaint, filed with the Ontario Securities Commission, raised concerns over the proposed recapitalization of the company by way of the going-private transaction.

SiriusXM Canada said on Tuesday the recapitalization was “in the best interest of the company,” adding that it would present its position to the regulator “shortly”.

Reporting by Alan John Koshy in Bengaluru

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