- Liberty Media (LMCA +1.5%) says it's launching a private offering of senior debentures exchangeable for Time Warner (TWX +0.7%) stock.
- Holders will have the option to exchange the debentures, at which point Liberty has the option to deliver Time Warner stock, cash, or a combo of the two.
- Liberty will use proceeds for general purposes "including to make acquisitions."
Liberty Media offering debentures exchangeable for TWX shares
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