Congressmen Concerned Over DOJ 'Rush' On XM-Sirius Merger
December 12, 2007 at 8:28 PM (PT)
A letter sent by Reps. JOHN CONYERS (D-MI) and STEVE CABOT (R-OH) to Attorney General MICHAEL MUKASEY expressing "dismay" at the JUSTICE DEPARTMENT's "rush" to approve the XM-SIRIUS merger before MUKASEY has a chance to participate in the process sent shares of both companies falling in late trading WEDNESDAY.
The letter to the new Attorney General said that the Congressmen were "dismayed to learn of recent press reports suggesting that Justice Department staff may be trying to rush through the merger before you have an opportunity to fully participate, and that Assistant Attorney General for Antitrust THOMAS O. BARNETT may intend to grant the merger over the objections of department staff." Neither Congressman has taken a formal position on the merger but exhorted MUKASEY to act to preserve his participation in the decision.