Live Nation stock is now flirting with $50 per share, opening Wednesday at $49.96. That’s up more than 14% in the last month and appears to be driven by growing buyout rumors.
Concert and ticketing giant Live Nation has been delivering strong growth and earnings, but the thought that it should or could be bought by SiriusXM seems to be driving the current stock increase. An analyst at Citigroup has suggested that Sirius XM Holdings (NASDAQ:SIRI) may want to buy out Live Nation to create “vertically integrated music titan.”
The current stock price puts Live Nation’s market cap at $10.35 billion.