Sirius XM hires advisers for Liberty bid

January 24, 2014

Sirius XM says it has hired financial and legal advisers to help it evaluate Liberty Media's bid to buy all of the satellite radio provider.

Liberty Media Corp., an Englewood, Colo., company controlled by billionaire John Malone, already owns more than half of the New York-based company's shares. It is trying to gain control of the rest of Sirius XM Holdings Inc. in a that valued Sirius XM at about $23 billion when it was announced earlier this month.

Sirius XM formed a special committee to consider the offer and said Friday that it has hired Evercore Group L.L.C. as a and Weil Gotshal & Manges LLP as a legal adviser.

Explore further: Sirius XM Radio planning to stream to iPhone, iPod

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