Sirius XM approached Pandora board about acquisition

source
Thomson Reuters

SiriusXM Chairman Greg Maffei has recently reached out to the board of internet radio provider Pandora about a possible acquisition, according to a Bloomberg report.

Pandora’s stock surged more than 16% on Friday following the report, which was based on anonymous sources.

Earlier on Friday, CNBC reported that Pandora was “open” to selling itself.

Bloomberg said that Sirius did not discuss a price for the deal and that Pandora still has not yet responded.

Sirius offered about $15 a share to buy Pandora earlier this year, Bloomberg said.