XM Satellite Radio and Sirius stock prices got a boost Friday when an analyst predicted the Justice Department won't block Sirius from buying out the larger XM. Morning trade saw XM shares jump 9.4% and Sirius shares 4.6%, reports CNN. The analyst said that shares could hit $20 and $4.50, respectively, if the deal goes through.
The plan would give XM shareholders 4.6 shares of Sirius stock for each of their XM shares. "We think the Justice Dept. decision will be based on analysis of market leverage, competition and market definition," said the analyst, who also suggested the FCC might make its decision soon after the Justice Department.