Mergers & Acquisitions: Pandora Acquisition Possibility, Fortune’s Deal Changes
These were Thursday’s top stories:
Pandora Media (NYSE:P) shares are up modestly Thursday subsequent to a Bloomberg article which implies that Apple’s (NASDAQ:AAPL) reported Internet radio plans might induce the former’s online competitors, as Google Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Clear Channel, to think about a purchase of its huge user base and mobile ad unit. An analyst at Albert Fried opines that Pandora could bring $20 a share.
Shares of Fortune Industries, Inc. (AMEX:FFI) gain two-thirds of their value on heavy volume on word that the company is reconfiguring its merger deal with Ide Management Group. The modified agreement should result in the firm remaining registered with the Securities and Exchange Commission and also continue to be publicly traded. Current company shareholders will continue to own their company shares, as well.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>