Pandora rejected an offer to sell itself for over $3.4 billion, report says

Pandora rejected an offer to sell itself for $15 dollars a share, a deal that would have valued the company at over $3.4 billion, according to The Wall Street Journal.

The offer came from Liberty Media CEO Greg Maffei, whose company controls Sirius XM, but was more of a “fishing expedition” than a formal offer, sources told the Journal. Pandora’s board “rebuffed the advance,” primarily because it believes the company’s value is closer to $20 per share.

The sources also said Pandora had courted other buyers like Apple and Amazon.

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