Shares of online music streaming service Pandora (P)  slid 7.7% to close at $8.74 Tuesday as a decisive KKR investment is set to close.

Last month, private Equity firm KKR invested $150 million in Pandora, with a further provision of $100 million at Pandora's discretion.

In return, KKR would receive a board seat in the company and preferred shares, if Pandora had not sold itself within 30 days.

The 30-day deadline arrives on Thursday.

One firm interested in Pandora is Liberty Media (LMCA) which has a majority stake in satellite radio group Sirius XM (SIRI) . Evercore ISI noted last month that a deal between the two was "certainly possible."

However, should that deal fail to happen Verizon Communications (VZ) has reportedly considered making a push for Pandora, according to the New York Post.

Shares of Pandora are lower over 17% the past month.

Stocks have rebounded following a sharp sell off last week. Jim Cramer believes the rebound is real and gives investors advice on how to play the market going forward.

Click here for the latest business headlines.

More from Stocks

Video: Here's How Goldman Sachs May Change Under David Solomon

Video: Here's How Goldman Sachs May Change Under David Solomon

J&J Vows to Fight Verdict Linking Baby Powder to Ovarian Cancer

J&J Vows to Fight Verdict Linking Baby Powder to Ovarian Cancer

3 Reasons Why Netflix Bulls Are Getting Their Face Ripped Off After Earnings

3 Reasons Why Netflix Bulls Are Getting Their Face Ripped Off After Earnings

Markets Close Higher After Fed Chair Powell's Capitol Hill Testimony

Markets Close Higher After Fed Chair Powell's Capitol Hill Testimony

Shark Tank Star Kevin O'Leary Reveals Why Stocks Haven't Corrected Recently

Shark Tank Star Kevin O'Leary Reveals Why Stocks Haven't Corrected Recently