Securing a financial war chest, SiriusXM has obtained commitments of up to $1.1 billion from J.P. Morgan, Morgan Stanley, and Bank of America.
Tracking Stocks: A Unique Mechanism
Tracking stocks, unique financial instruments, are closely tied to the performance of their respective businesses, trading independently from the parent company’s stock. Liberty Media also holds similar instruments for Formula One and LiveNation.
The Masterminds Behind the Scenes
The legal and advisory teams, including Simpson Thacher, Debevoise, and Willkie Farr & Gallagher, are the unsung heroes, playing critical roles in orchestrating this complex merger.
