Friday, April 12, 2013

T-Mobile gives 'best and final offer' for MetroPCS takeover

T-Mobile

Better terms to hopefully lessen MetroPCS shareholder disapproval of the deal

T-Mobile USA's parent company Deutsche Telekom has submitted its "best and final offer" to shareholders, sweetening the deal for the MetroPCS reverse takeover. Amidst the growing sentiment among MetroPCS shareholders that they're getting the bad end of the deal, T-Mobile is reducing the amount of debt transferred to the new company as part of the deal. The current terms are good enough for most, and see MetroPCS shareholders receiving $4 per share and a 26-percent stake in the newly combined company. The new deal will also now see a reduced amount of debt transferred to the new company, now at $3.8 billion -- along with a slightly lower interest rate.

Although there is a vocal minority of shareholders disapproving of the current terms, they're still the minority. With T-Mobile previously stating that it felt its initial terms are fair, it's interesting to see it come back with a better offer to help guarantee the deal is accepted. MetroPCS shareholders are currently sending in their votes to approve or disapprove of the deal ahead of a shareholder meeting, which has been pushed back to April 24th because of the new terms. Pending that shareholder approval, all indications point to the deal going through at some time in 2013.

Source: WSJ

    


Source: http://feedproxy.google.com/~r/androidcentral/~3/-L_PlG7uuHA/story01.htm

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