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Sprint, T-Mobile CEOs agree on one thing: Merger means scale
2014-06-04 05:16:54| Telecom - Topix.net
After reports that the parents of Sprint Corp. and T-Mobile US Inc. are coming closer to a merger deal, T-Mobile CEO John Legere said such scale should scare the top dogs in U.S. telecom.
Carphone Warehouse, Dixons agree all-stock merger
2014-05-15 08:53:00| Telecompaper Headlines
(Telecompaper) UK retailers Carphone Warehouse and Dixons have reached agreement on an all-share merger, giving each 50 percent in the new company Dixons Carphone. Dixons shareholders will receive 0.155 shares in the new company for each share of Dixons they hold. The two companies, which first announced the merger talks in late February, said they expect at least GBP 80 million in annual synergies from the integration of their operations. Half of this should be achieved by fiscal year 2015/16 and the total by 2017/18. Carphone chairman Charles Dunstone will continue as chairman of the new group, and Dixons' Sebastion James will stay on as CEO. Andrew Harrison, CEO of Carphone, will become deputy CEO, and Humphrey Singer, CFO of Dixons, will become CFO. Completion of the merger remains subject to shareholder and regulatory approval.
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Mitel, Aastra Technologies agree merger
2013-11-11 12:38:00| Telecompaper Headlines
(Telecompaper) Enterprise communications specialists Mitel Networks and Aastra Technologies have agreed to merge. Mitel will acquire Aastra for USD 6.52 cash plus 3.6 Mitel shares for each Aastra share, valuing Aastra at CAD 392 million. The price of CAD 31.96 per Aastra share is a 20.9 percent premium to the 30-day volume weighted average price of Aastra shares prior to the announcement. The deal creates a company with increased scale, strengthening Mitel's position in the European market and preparing the two companies for the shift to cloud services. The combined company will be headquartered in Ottawa, Canada and will operate under the name Mitel while continuing to leverage Aastra's brand in select European markets. Mitel CEO Richard McBee will lead the group. Aastra' s co-CEOs Francis Shen and Tony Shen will serve as respectively Chief Strategy Officer and Chief Operating Officer, and they have already committed their combined 14 percent stake in the company to the takeover bid. Aastra will have the right to appoint three members of the nine-member board. The new company has pro forma sales of USD 1.1 billion per year, and the group expects synergies of USD 45 million per year within two years, driven by supply chain optimization, facilities consolidation and economies of scale.
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EUROPE: Bottlers Gerber Emig, Refresco agree merger
2013-04-16 15:10:00| Daily beverage news and comment - from just-drinks.com
Bottling groups Gerber Emig and Refresco have agreed a deal to merge, subject to regulatory approval.
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