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