Sirius and XM shareholders are slated to cast their vote on the proposed merger on November 13th, according to a recent SEC filing.
Structured to give existing XM and Sirius shareholders roughly 50/50 ownership, the deal sets up XM shareholders to receive 4.6 SIRI shares for each XMSR share. Based on Sirius' closing price as of yesterday, the deal values XMSR at $15.92 a share.
A vote in favor of the merger is required only from XM shareholders, though Sirius investors must approve issuance of shares and other matters related to the deal.
Sirius investors who held shares as of Tuesday and XM shareholders as of Monday are eligible to vote on the deal.
Set to hold their meeting on the same day, Sirius' meeting is scheduled for 9am ET, and XM's meeting is scheduled for 3pm ET. Sirius' stockholder meeting will be held in The Auditorium at The Equitable Center, 787 Seventh Avenue, New York, New York 10019 and XM's shareholder meeting will be held at The Renaissance Mayflower Hotel, 1127 Connecticut Avenue, NW, Washington, DC 20036.
The end is near...
[SEC Filing via CNN Money]
Ryan,
did i read that they try to schedule the vote right around the time when they expect approval?
Gary, you read right. What a roller coaster this has been... I can't wait for it to be over (regardless of the outcome).
One question: does anyone know if Clear Channel has a say in the XM vote? I know XM has an agreement with them, but I don't know if Clear Channel actually owns a share of XM.
The end is indeed here.
The end of a competitive satrad environment.....
I WILL VOTE NO.
I thought CC was still sitting on their stock, since they still have their channels, but I think there was some other details as to how the deal worked. I'd assume they'd vote against, if they have voting rights. I sure would.
I am voting NO.
XM is not worth what Sirius is giving them. XM does not even own two good satellites.
I would vote yes only if Sirius made a better deal.
I want to see the merger but It is XM that needs it not Sirius.
I, like most shareholders, am voting YES.
>> XM is not worth what Sirius is giving them. XM does not even own two good satellites.
You really know WTF you're talking about.
Hint: It isn't XM scheduled to launch two new sats over the next two years.
If this deal was ever blocked or there were strong conditions that forced the two companies not to go through with this merger, then the American people need to file lawsuits in the masses against the FCC and Kevin Martin, and the DOJ, for the way the whole thing has been handled since February. Its that simple. All these people spilling hints of this and that in the media through these two organizations completely show how screwed up this country has really become.
This merger being blocked only proves one thing, and that is that the voice of the people has been disregarded, and the people need to take their country back away from these lobbying and money driven politicans. People in this country better wake the fuck up and start realizig what is happening to them and what this government is doing to them.
Those are the facts!
Merger Quote of the year:
Vote (blank) and the terroist win
Man I am kind of sad all this talk my be over, guess I will have to check Orbitcast for just content issues, Damn.
As a subscriber and Shareholder count me as a "Yes" vote- Screw the NAB!
This is simply too much to lose if this merger does not go through. The savings alone by eliminating the duplication of various services will be tremendous. They'll be finally able to turn a profit and grow.
I vote - YES!
Posted by: StackPointer | October 4, 2007 12:12 PM
Hint: It isn't XM scheduled to launch two new sats over the next two years.
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How soon you forget..
XM has ALREADY had to replace the two they had...Then one of the NEW ones went down taking out the XM repeater network
Yeah XM is so much better thay had to replace the XM birds FIRST