Legal News

MetroPCS Sends Letter to Shareholders Asking Them to Back Merger
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

In a letter sent to shareholders, MetroPCS has asked that its shareholders support the proposed merger with T-Mobile USA, according to Forbes and CNET. The company said that the merger is the best available method for the tiny carrier to compete in the market. The letter was sent out in an effort to change the talk after two activist investors claimed they would not vote in support of the merger.

MetroPCS, in the letter to its shareholders, said that it could not guarantee the ability to deliver better value as a wireless company that operates on its own in the market. The company is looking to combine resources and networks with T-Mobile in an effort to compete with Sprint Nextel, Verizon, and AT&T.

  
What
Where


Deutsche Telekom owns T-Mobile and it would hold 74 percent of the company in the reverse merger, which was announced back in October. MetroPCS would declare a 1-for-2 reverse split and pay $1.5 billion in cash to the shareholders.

The two activist investors who announced their intent not to back the merger are Paulson & Co., the largest investor for MetroPCS, and P. Schoenfeld Asset Management. Glass Lewis and ISS, two proxy advisers, have also said that they will not support the merger.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Legal Billing Clerk

USA-GA-Atlanta

Downtown Atlanta law firm is seeking full time billing clerk with experience in Legal Tracker, Couns...

Apply now

Attorney - Insurance Defense

USA-GA-Atlanta

Job Description Rutherford Christie\'s Atlanta office is seeking a Litigation Associate Attorney&...

Apply now

Associate Attorney

USA-GA-Atlanta

Litigation associate attorney position handling all aspects of the defense of civil litigation from ...

Apply now

Associate Attorney - 1-3 years experience

USA-TX-Houston

Rymer, Echols, Slay & Nelson-Archer, P.C. is seeking an associate for our office in the Houston Gall...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Commercial Litigation Associate Attorney

USA-MA-Boston

Boston office of a BCG Attorney Search Top Ranked Law Firm seeks a commercial litigation associate a...

Apply Now

Foreclosure Attorney

USA-GA-Atlanta

Atlanta office of a BCG Attorney Search Top Ranked Law Firm seeks foreclosure attorney with experien...

Apply Now

Foreclosure Attorney

USA-TN-Memphis

Memphis office of a BCG Attorney Search Top Ranked Law Firm seeks foreclosure attorney with experien...

Apply Now

SEARCH IN ARCHIVE

To Top