Over a year after talk of a Sirius and XM merger first surfaced, the companies made it official on Monday.
The two U.S. satellite radio providers announced a merger of equals on President's Day. Under the terms of the agreement, XM shareholders will receive 4.6 shares of Sirius stock for each share of XM they own. XM and SIRIUS shareholders will each own approximately 50% of the combined company.
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