XM, Sirius Merger Moving Ahead
Today was a busy day in the mergers and acquisitions market, with the news of an overwhelming vote of support for the merger of XM and Sirius balancing out the European Commission's announcement of an investigation of Google's acquisition of DoubleClick.
According to reports, 99.8% of XM shareholders voted to approve the merger, which would award each shareholder 4.6 shares of Sirius for each XM share. A similar vote was scheduled for Sirius shareholders, but results were not immediately available.
It appears the merger is close to finalization, as the Federal Communications Commission and Justice Department both seem poised to okay the move.