Democrats such as Elizabeth Warren had their eye on business and the working class during the first 2020 presidential primary debate in Miami.2020 Electionsread more
Chinese President Xi Jinping is expected to present U.S. President Donald Trump with the terms it expects the U.S. to meet before Beijing is willing to settle the countries'...World Economyread more
Huawei's legal chief told CNBC that the company makes "solutions for civil use."Technologyread more
The Chinese Ministry of Commerce maintained a firm stance against the U.S. during a weekly press conference on Thursday, less than two days ahead of a scheduled meeting...China Economyread more
Carl Icahn ratcheted up his fight with Occidental Petroleum over its pending purchase of rival Anadarko Petroleum by calling for a special shareholder meeting where he hopes...Energyread more
The issue over health insurance marked the first stark divide among the candidates, and sparked a heated back-and-forth between many of the candidates on stage.Politicsread more
The stock market is shrinking for several key reasons, but there's a way for investors to maneuver it, says Citi Research strategist Robert Buckland.Trading Nationread more
Four candidates mentioned China — but none of the Democratic contenders brought up trade in the debate.Politicsread more
Credit Suisse initiated coverage of Tesla Wednesday with an "underperform" rating and a price target 15% below where the stock closed.Marketsread more
Something unusual is happening in financial markets, and it could mean more gains lie ahead for stocks, if history is any indication.Marketsread more
Waymo has officially expanded its reach and is now making some of its self-driving minivans available for customers of ride-share firm Lyft.Transportationread more
Satellite radio company SiriusXM plans to acquire music streaming service Pandora in a $3.5 billion all-stock deal unveiled Monday.
The agreement includes a "go-shop" provision where Pandora "may actively solicit, receive, evaluate and potentially enter negotiations with parties that offer alternative proposals following the execution date of the definitive agreement."
Acquiring Pandora would make SiriusXM the world's largest audio entertainment company, with over $7 billion in combined revenue expected in 2018. The deal would bring together SiriusXM's 36 million subscribers in North America and Pandora's more than 70 million monthly active users.
Shareholders will receive 1.44 of newly issued SiriusXM shares for each Pandora share they hold, the companies said. The implied Pandora price from this deal is $10.14 a share, or a 13.8 percent premium over a 30-day volume-weighted average price.
Pandora stock has soared nearly 90 percent during the past year. While the music streaming business is thick with competition — names such as Spotify, Amazon and Apple have their own platforms — Pandora reported a smaller-than-expected earnings loss for its second quarter and announced it had about 6 million premium subscribers.
Evercore ISI analyst Anthony DiClemente said he wouldn't rule out a higher bid for Pandora from a tech giant, but he believes "Apple and Spotify have had a chance to look at Pandora already."
"I do think once the market kind of gets a better feel for what the strategy is at the SiriusXM level, then we'll start to see the stock normalize," DiClemente said on CNBC's "Squawk Box."
SiriusXM expects the deal to close in the first quarter of 2019.
The satellite radio company signed a partnership with Netflix in July to create a comedy channel. That channel is slated to launch in January and will feature new material from comedians promoted in Netflix original content.
– CNBC's John Melloy contributed to this report.