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Sirius, XM Stocks Rise as Merger Looms

Analyst predicts Justice Department won't block Sirius from buying XM

By Laila Weir, Newser User

Posted Nov 30, 2007 1:16 PM CST

(Newser) – 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.

A Chrysler Jeep drives past an advertisement for XM Satellite Radio at the New York International Auto Show in New York in this April 13, 2007 file photo. XM Satellite Radio Holdings Inc. said on Thursday,... (Associated Press)

XM Satellite Radio and Sirius Satellite Radio products are advertised side by side on the exterior windows of the Al & Ed's Autosound store in the Sherman Oaks section of Los Angeles, March 21, 2007.... (Associated Press)

A Dodge Nitro equipped with Sirius Satellite Radio is displayed at the New York International Auto Show in New York in this April 13, 2007 file photo. (AP Photo/Mark Lennihan, file) (Associated Press)

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Sirius, XM Stocks Rise as Merger Looms

Analyst predicts Justice Department won't block Sirius from buying XM

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Sirius, XM Stocks Rise as Merger Looms

Analyst predicts Justice Department won't block Sirius from buying XM

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OTHER STORIES ON OUR RADAR

Related links

radio • satellite radio • Sirius • mergers and acquisitions • XM Satellite Radio

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Satellite Merger Clears Hurdle

Justice Dept. doesn't see threat to competition; FCC must still weigh in

XM, Sirius Say Post-Merger Prices Will Fall

Satellite-radio giants bid to overcome resistance with new subscription plans

XM Fans Irate at Shock Jock Suspension

Opie & Anthony, kicked off airwaves, now in trouble on satellite

Liberty Media Nears Sirius Rescue Deal

Company to get stake in Sirius in return for fending off Echostar

Satellite Radio Is Doomed

Auto downturn looks likely to kill Sirius and the satellite radio biz

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Newser By Users

Community

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