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Metropcs Communications Inc Urges Shareholders To Vote For Amended Deutsche Telekom AG's T-Mobile Deal-DJ

Monday, 15 Apr 2013 08:11am EDT 

Dow Jones reported that Metropcs Communications Inc amended the terms for its proposed merger with Deutsche Telekom AG unit T-Mobile USA, and asked shareholders to vote for the deal. The move follows Deutsche Telekom sweetening its offer last Wednesday, bowing to pressure from activists and proxy advisory firms. The amendment significantly improves the value of the proposed combination for shareholders. The new terms include reducing the combined company debt by $3.8 billion to $11.2 billion and lowering the interest rate on the debt by 50 basis points. As a part of its sweetened offer, Deutsche Telekom has expanded the lock-up period, when it is prohibited from publicly selling shares in the Company, by 12 months to 18 months. 

Company Quote

-0.18 -1.16%
10:13am EST