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MertroPCS mails out letter requesting that stockholders vote for merger

Posted: , by Alan F.

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MertroPCS mails out letter requesting that stockholders vote for merger
With the stockholder vote on its merger with T-Mobile set for April 12th, MetroPCS has sent out a letter to stockholders requesting that they vote for the merger. According to the letter, the MetroPCS-T-Mobile deal offers "compelling economic terms for MetroPCS shareholders," and also helps take care of MetroPCS' spectrum needs and alleviates the competitive disadvantage that the carrier was facing as an independent company. The deal also helps MetroPCS  move into underserved metropolitan areas. Lastly, it helps MetroPCS customers by offering them a better data network and a wider choice of devices.

The letter also offers a wide variety of reasons why the deal should be approved, with one reason being to "Facilitate the offering of a broad product portfolio, including Apple devices." If you are a MetroPCS shareholder, the deal will bring you $4.06 a share along with ownership of 26% of the stock. T-Mobile's parent company, Deutsche Telekom, will own the remaining 74% of the shares, which will continue to trade publicly.

To vote for the merger, T-Mobile wants you to return the green proxy card and vote "For" all of the proposals. The way this works, if you don't vote or abstain, it is the same as voting against the deal.

The DOJ recently signed off on the transaction leaving the FCC and the Committee on Foreign Investment left to sign on the dotted line. And, of course, MetroPCS' shareholders must approve the deal.

source: MetroPCS

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posted on 12 Mar 2013, 09:17 1

1. Galen20K (Posts: 545; Member since: 26 Dec 2008)

Honestly I think the deal is good for both companies, those two MetroPCS stockholders are just being Petty by standing against it. I don't think they're really against it, I think they just want more money.

posted on 12 Mar 2013, 13:23 1

2. richardyarrell2011 (banned) (Posts: 510; Member since: 16 Mar 2011)

The FCC signed off on this today so now shareholders you're holding up forward progress.

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