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For every share of XM that you own, you will receive 4.6 shares of SIRI once the merger is actually finalized. Which could be some time in 2039 :-) So, for the 100 shares of XM that you own, you will receive 460 shares of SIRI in your brokerage account. The XM shares will disappear after that, so you will only have SIRI shares.
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