SiriusXM Canada seeks to go private

TORONTO - Sirius XM Canada’s parent has agreed to recapitalize the company by way of a go-private transaction, the satellite radio service said Friday.U.S. partner Sirius XM Holdings is offering $4.50 per share cash, Sirius XM Holdings Inc. (SIRI) shares or Canadian shares exchangeable into SIRI shares. The total transaction consideration is approximately $351 million, and represents a premium of 22.3% to SiriusXM Canada's unaffected closing share price on February 11, 2016.SiriusXM Canada's largest Canadian shareholders, CBC, Slaight Communications, and Obelysk Media, are supportive of the recapitalization, says the news release. CBC is planning to sell its stake in the...