Report: Pandora attracting buyout interest

|About: Pandora Media (P)|By:, SA News Editor

Sources tell dealReporter Pandora (P +3.3%) is attracting M&A interest. Details are scant.

Shares have spiked on the report, but have returned a portion of their initial gains. Pandora rallied on vague M&A rumors last Wednesday.

The heavily-shorted Web radio leader is trading well below a high of $40.44. However, it still sports a $5.4B market cap.