Sirius Satellite Radio (SIRI) and XM Satellite Radio (XMSR) extended their merger agreement two months as regulators keep the proposed tie-up in limbo. The original merger deal — first announced a year ago — specified that either party could walk away March 1 without paying a breakup penalty if they hadn’t recieved FCC and DOJ approval.
We understand these regulatory issues can be incredibly complex, but as Jim Cramer likes to point out, four hearings have already been held on the merger. That’s three more than it held on the $82 billion merger of Exxon-Mobil.
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