Mobile Financial Headlines

Sirius (SIRI) shareholders dig the XM Satellite merger

posted 850 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke

Today shareholders of Sirius Satellite Radio Inc. (NASDAQ:SIRI) approved the company's $5 billion acquisition of rival XM Satellite Radio Holdings Inc. (XMSR). Shares of SIRI closed the day up 6.4% at $3.62. Now it's up to the Department of Justice and the Federal Communications Commission and if that happens, hello $8 a share. Sirius said in a statement that more than 96 percent of the shareholder votes cast approved the acquisition. The company said it still hopes to complete the deal by the end of the year. Shareholder advisory firms had endorsed the deal, which would save costs for both companies on acquiring subscribers, programming and broadcasting. The deal still faces close scrutiny by regulators in Washington, however, and some consumer groups have opposed th

Related Headlines