XM and Sirius deal closer?
December 4, 2007
Shares of XM Satellite Radio and Sirius rose sharply before the weekend after speculation the Department of Justice is to announce it will not block a deal to unite the two.
If and when the transaction wins DOJ approval, it will move to the Federal Communications Commission. If the FCC approves the XM/Sirius combination, it’s expected that conditions could be attached to the deal.
If the deal is approved, XM shareholders will receive 4.6 shares of Sirius’ stock for every XM share they own.