Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Qwest Communications International Inc.
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BENSALEM, Pa.--(Business Wire)--
Law Offices of Howard G. Smith announces that it is investigating potential
claims against the board of directors of Qwest Communications International Inc.
("Qwest" or the "Company") (NYSE:Q) related to the Company`s agreement to be
acquired by CenturyTel, Inc. ("CenturyTel") in a proposed stock-for-stock
transaction valued at approximately $10.6 billion.
Under the terms of the definitive agreement entered into by the parties, Qwest
shareholders will receive 0.1664 shares of CenturyLink for each share of Qwest
common stock they own at closing. Based on the closing stock price of
CenturyLink on April 21, 2010, the per-share consideration to be received by
Qwest shareholders in the proposed transaction would be equivalent to $6.02 of
CenturyLink stock. Upon closing of the transaction, CenturyLink shareholders are
expected to own approximately 50.5 percent of the combined company and Qwest
shareholders are expected to own approximately 49.5 percent. The transaction is
expected to be completed in the first half of 2011. The investigation concerns
possible breaches of fiduciary duty and other violations of law related to
approval of the transaction by Qwest`s board of directors.
If you own shares of Qwest, if you have information or would like to learn more
about these claims, or if you wish to discuss these matters or have any
questions concerning this announcement or your rights or interests with respect
to these matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Copyright Business Wire 2010
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