Looks like this merger is going to happen. Anyone else besides me still think both of these stocks are a waste even if they merge?
they will save a lot of money if the merger finally gets done, but they are in a tough area of business since they are certainly discretionary spending. hard to justify buying satellite radio when a tank gas costs 60 bucks. i did think it was funny when i saw citigroup up their target on siri to 9 since the deal is likely getting done. i'd love to hear where they think all this new business will be coming from lol.
From $2.75 last week to $1.50 this morning - not fun for the posters on the Yahoo messageboard for SIRI. 319.59 million XMSR shares = 1.470 billion new SIRI shares 1.50 billion existing SIRI shares Total outstanding SIRI shares now 2.97 billion * 1.50 share price = 4.45 billion market cap