Sirius stockholders approved merger
Tags: 2, XM
Unsurprisingly, Sirius stockholders voted to approve the merger with XM Satellite Radio Holdings Inc.
The approval by Sirius Satellite Radio Inc. stockholders includes the amendment to the certificate of incorporation and the issuance of 4.6 shares of Sirius common stock for each share of XM.
Mel Karmazin, Chairman and CEO of Sirius issued the following statement:
"The approval by Sirius stockholders of our merger with XM represents a significant step in the approval process, and on behalf of the Board and management team, I want to thank our stockholders for their continued support. We look forward to completing the merger by the end of the year and, together with XM, becoming an even stronger competitor in the ever expanding audio entertainment marketplace offering consumers more choices at lower prices."
The preliminary count indicates that over 96% of the shares voted were cast in favor of the transaction.
Just curious, did anyone actually think that Sirius shareholders wouldn't approve the merger?