MetroPCS shareholders to vote on T-Mobile merger March 28th
$4.09 a share in cash and together, a 26% ownership in the new company which is expected to be named T-Mobile. P. Schoenfeld has filed with the SEC, saying that the deal is unfair. The fund owns 2.3% of the carrier's shares which it will vote against the deal, and if Paulson votes its 8.7% stake the same way, it could make things interesting.
Even if MetroPCS shareholders let the deal go through, the merger still will require regulatory approval in the U.S.
source: Marketwatch via AndroidCentral
1. TheMan (Posts: 400; Member since: 21 Sep 2012)
I don't know what, if any, return on investment these funds will see, but considering MetroPCS downward spiral -- shares are half the value they were 18 months ago -- I'm a little surprised.
Just read that the call volume is quadruple normal levels just ahead today's earnings report. Seems like investors are still bullish, so I can see where this is coming from, i.e., some investors believe they can get more value