BigChampagne's Ultimate Chart (a/o February 3rd):
1. “What Doesn't Kill You (Stronger),” Kelly Clarkson
2. “Turn Me On,” David Guetta
3. “Set Fire to the Rain,” Adele
4. “Rack City,” TYGA
5. “Good Feeling,” Flo Rida
6. “Young, Wild & Free,” Snoop Dogg & Wiz Khalifa
7. “We Found Love,” Rihanna
8. “Sexy and I Know It,” LMFAO
9. “Domino ,” Jessie J
10. “International Love ,” Pitbull
Bottom-scraping stocks are bait for hostile buyouts, and that has Sirius XM on alert. The company is now implementing a 'poison pill' plan that would make a hostile takeover far more difficult. The plan would affect anyone grabbing more than a 4.9 percent stake, and implement certain voting reductions and ownership dilutions at the discretion of the board.
At present, Liberty Media controls 40 percent of Sirius, based on a late-stage agreement that helped the satellite company avert bankruptcy. Liberty appears to be driving the plan, a defensive measure to prevent dilution of its large minority stake. In fact, any further acquisitions by Liberty are not covered by the poison pill, though purchase attempts by Liberty rival EchoStar are most certainly included.
The poison pill, alternatively dubbed a 'shareholder rights' plan, has already been approved by the Sirius board. Stockholder approval comes next.
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