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Liberty Media stockholders approve F1 acquisition plan
Liberty Media's plans to take control of Formula 1 took a further step forward on Tuesday as stockholders voted in favor of its proposed bid, and approved a name change to “Formula One Group". The American media company, which already had a 19.1 percent stake in F1, last month revealed it had raised a further $1.55billion from investors to help increase the cash portion of its shareholding in F1. Today, following a stockholder meeting in Colorado, a statement was released that read: “The holders of its common stock entitled to vote thereat approved (i) a proposal relating to the issuance of shares of Series C Liberty Media common stock in connection with its pending acquisition of...
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8y ago from Motorsport.com
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