Shareholders OK Sirius, XM Merger

Regulators haven’t had their say yet, but it’s clear where Sirius and XM shareholders stand on the proposed merger.
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Regulators haven’t had their say yet, but it’s clear where Sirius and XM shareholders stand on the proposed merger.

Stock owners approved the proposed merger between the two companies this week. Sirius said more than 96 percent of the shareholder votes cast approved the acquisition; XM said 99.8 percent of its shareholders were in favor.

The companies said they still hoped to complete the deal to allow Sirius to acquire rival XM for about $5 billion by the end of the year.

If approved by regulators, XM stockholders would receive a fixed exchange ratio of 4.6 shares of Sirius common stock for each share of XM. XM and Sirius stockholders would each own approximately 50 percent of the combined company.

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