2. The poison pill defense that Sirius XM put in place after the merger expired in 2011, made it at least theoretically possible for another company to buy enough shares to complete a takeover. With its fi nances on much stronger footing and its stock price rebounding, the company has started to look like an attractive investment. If another party (including Liberty Media) eventually acquires Sirius XM because of its attractive stock price and growth prospects, does that mean the merger of Sirius and XM was a failure? Why or why not?