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Liberty Media stockholders approve proposals for F1 acquisition
Liberty Media has crept closer to its takeover of Formula 1 after stockholders voted in favour of its proposal to acquire the championship. American company Liberty announced its plans last September to purchase Delta Topco, the parent company of Formula 1, and initially took on an 18.7 per cent stake in a cash deal, valuing the brand at $8 billion. Liberty announced in December that it had agreed deals with third party investors to raise $1.55bn and that it had received the approval of antitrust authorities. Liberty still required the approval from its stockholders, who met on Tuesday to give the green light to the takeover. “The holders of its common stock entitled to vote thereat...
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9y ago from MotorsportWeek.com
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