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Bear Stearns Chimes In On XM & Sirius Merger (XMSR, SIRI)
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Bear Stearns has a research note out calling for an imminent decision on the regulatory approval decision regarding the merger between Sirius Satellite Radio (NASDAQ:SIRI) and XM Satellite Radio (NASDAQ:XMSR). This does not say that the merger is a done deal, but it gives some upside targets if this merger gets approved.
Bear Stearns believes the following targets can be hit if the merger is approved:
- $20.00 on XM Satellite; compared to $13.74 close yesterday.
- $4.50 on Sirius Satellite; compared to $3.52 close yesterday.
Just last week, 24/7 Wall St. covered the possibilities of this coming more true. The Sirius & XM merger has been under review for our own Special Situation Investing Newsletter where we cover mergers, break-ups, spin-offs, divestitures, back door plays into IPO’s and reorganizations that create hidden value opportunities for shareholders.
Jon C. Ogg
November 30, 2007
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