Glass, Lewis & Co., a leading independent proxy advisory firms, has recommended that stockholders of XM Satellite Radio Holdings Inc. (XMSR) and Sirius Satellite Radio Inc. (SIRI) vote "FOR" the companies' merger proposals.
According to Glass Lewis's analysis, "the transaction is fairly priced and will yield substantial cost synergies for shareholders of both companies." As a result, Glass Lewis believes that the "proposed merger is in the interests of shareholders of both companies."
I'm not a shareholder of either company (never have been, never will be), but I know a lot of you are. So I'm curious, how will you vote?
Just say NO to the merger, not drugs.
as a stockholder there is absolutely no other answer but YES! The synergies are too obvious and we have always struggled to figure out which company was the best investment for the long haul. Both is the answer. Go Merger.
After a nearly all night review of both reports. I am definitly voting NO.
I need to call my broker as I still have not received my Proxy voting form.
Can you explain why you will vote NO, I don't understand. Is there a clause in the proxies that makes the merger a joke? Please enlighten?
2,381.991 votes for yes.
just some of what I found in the reports.
XM depreciated their Satellite System by 20 million more than Sirius Did. Going back XM has done this since the beginning where Sirius has under depreciated their system.
This added 20 million dollars to XM's Loss this Quater
Sirius still did not report the Gross OEM or Gross retail, only the total gross.
Sirius grew 80 million in reveue in a year yet only reduced the loss by 40 million.
XM's cash on hand increased while Sirius's dropped.
The above numbers are from memory so I could be off a bit, but the general Idea I beleive is convayed. Jacoby is right and does make a valad point not to be impressed by the Sirius report. The only thig impressive is that nearly 2 million people got Satellite Radio in 3 months. Thats 8 million per year.
I would suggest that anyone who owns stock in either company go to NASDAQ.COM and download the reports, read them, and if you do not comprehend them, DO NOT VOTE.
As a Sirius shareholder, I'd be more than happy for all the XM holders to vote no. I don't like the terms of the GM deal, and I'll gladly take your $175 million!
10,000 SIRI votes and 300 XM votes for YES! I actually got a phone call from some firm on behalf of Sirius to make sure that I was going to vote. They didn't urge me to vote yes or no, they just wanted me to vote. Thought that was interesting.
I just wonder how many millions XM/SIRI paid Glass Lewis to make this remark.
Not a shareholder. Won't be until after there's a decision. Finally had the $$ laying around to make a decent buy of XMSR, but decided that since I don't want the merger, I'd be better waiting until afterwards since it'll probably take a hit (though not nearly as bad as SIRI will, since they're the ones needing the bailout so bad).
All of my SIRI and all of my XMSR got voted YES.
To TIM: The reason that the representative wanted you to vote is because even if you do not vote, the vote is counted as a no, as it does NOT go to the Board of Directors decision like most normal votes.
XM is different, and any non-vote goes to the board to decided. So if you are an XM shareholder, dont worry about voting!
TVGenius: XM needs the bailout worse than Sirius does.
The jacoby report was very unusual. He was alot further off on all of his estimates than any other analyst (His SAC of 95? The street consensous was 106!). Take a look at thie website:
http://siriusbuzz.com/dont-be-fooled-by-partial-analysis.php
I already mailed in my proxy vote...and it was NO! I like things just the way they are. I hate monopolies, like Time-Warner which is my ONLY choice for cable TV. (Not that I care, I have DirecTV which has a competitor to keep rates in check).
Voted For,for & for = Merge