Washington
- Still awaiting approvals from the Justice Department and Federal
Communications Commission, D.C.-based XM Satellite Radio (NASD: XMSR) and New York-based
rival Sirius (NASD: SIRI) said on Friday that they have extended their merger deadline until
May 1. Both companies have expressed
optimism about receiving the necessary regulatory approvals, although some
analysts have expressed concerned about the delays in recent weeks.
Under the original terms of the $5 billion deal that was initially
signed last February, either company could have pulled out of the deal if the
merger wasn't completed by March 1, 2008.
Related Links:
http://biz.yahoo.com/prnews/080229/nyf044.html?.v=101
http://www.xmmerger.com
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