Liberty Media Bid For Satellite Affiliate Angers Investors

10/22/2001 | Wall Street Journal, The

John Malone's Liberty Media has angered some Liberty Satellite & Technology investors with its Oct. 12 bid to snap up the Liberty Satellite shares it doesn't already own. Liberty Satellite shareholders maintain the company is worth "at least two or three times" Liberty's $1.09 a share offer. Liberty Media defended the offer, saying it was higher that Liberty Satellite's recent trading price.

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