News Details
Liberty shareholders approve acquisition of F1
Liberty Media has confirmed that at a special meeting of stockholders approval was given for the acquisition of the sport and the change of name to 'Formula One Group'. The stockholders vote was one of several 'hurdles' the American company must overcome in order to proceed with its purchase of the sport in which it already holds a 19.1% stake. Having announced in mid-December that it had agreements with third party investors to commit $1.55 billion in subscriptions for newly issued shares in connection with its purchase of the sport, the company subsequently confirmed that it had received all the required approvals from the appropriate anti-trust authorities in connection with the deal....
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