Updated: Sirius Shareholders Approve Merger With XM; XM Vote to Come
By Joseph Weisenthal - Tue 13 Nov 2007 09:18 AM PST
Not that this part was ever in doubt, but shareholders of Sirius (NSDQ: SIRI) Satellite Radio have approved the company’s pending merger with XM. According to the company, more than 96 percent of voted shares were cast in favor of the merger. While this was seen as a foregone conclusion, regulatory clearance remains a significant hurdle. XM (NSDQ: XMSR) shareholders are also scheduled to have their vote later today. Release.
Update: XM shareholders have now approved the deal as well, as 99.8 percent of votes were cast in favor of the transaction. Shares of XM are up over 7 percent today, while Sirius shares have gained nearly 6 percent. Release.
