Cowen and Company analyst Tom Watts reports today that Thomas Barnett, assistant attorney general for the Department of Justice, (DoJ) will approve the Sirius/XM merger sent Sirius and XM stocks up four percent.
Watts also concluded in a report to investors that the DoJ might discuss the Sirius/XM merger as early as next week.
Watts said Barnett’s approval “would come despite a [DoJ] staff recommendation against the deal” and added that the pattern of the Antitrust Chief acting against his staff’s recommendations occurred, as well, in 2006 in the DoJ’s approval of Whirlpool’s acquisition of Maytag.
It will be nice when this deal is either done and put to bed, or dead and buried. Either way it's all good.
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