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Tag: shareholders
MetroPCS shareholders back new offer from Deutsche Telekom
2013-04-12 09:57:00| Telecompaper Headlines
(Telecompaper) Two of MetroPCS' major shareholders have withdrawn their opposition to the company's proposed merger with T-Mobile USA, after Deutsche Telekom improved the terms of the offer. Paulson & Co, the largest MetroPCS shareholder with a 9.9 percent stake, said that it "appreciates the substantial improvement to the terms", which include a USD 3.8 billion reduction in debt and 50 basis points reduction in the interest rate. Paulson said it will review its proxy statement for the AGM and intends to vote for the merger as restructured. P. Schoenfeld Asset Management (PSAM) also announced that it will withdraw its proxy solicitation campaign against the deal and not object to the proposed merger. PSAM said Deutsche Telekom had listened to the concerns of itself and other shareholders and improved the capital structure of the merger company. Under the new terms of the deal, it calculates pro forma net debt of 3.0 times EBITDA and a ratio of EBITDA minus capital expenditure to interest expense of 1.0 for the merged operators, which "conforms to what PSAM believes is necessary for a stable capital structure".
Tags: back
offer
deutsche
telekom
Dissenting MetroPCS shareholders approve Deutsche Telekom's revised offer
2013-04-12 02:00:00| Total Telecom industry news
P. Schoenfeld, Paulson & Co say sweetened deal offers better value for holders; vote to take place 24 April.
Tags: offer
deutsche
revised
approve
Worthington Industries: Acquisition Of Palmer Tank Creates Value For Shareholders
2013-04-12 00:36:59| Steel - Topix.net
Shares of Worthington Industries have inched up some 6% since the start of the trading week.
Tags: industries
acquisition
creates
tank
Quintiles will pay $25 million to large shareholders after IPO
2013-04-04 13:04:14| Biotech - Topix.net
The controlling shareholders of Quintiles, a group that includes executive chairman and co-founder Dennis Gillings, are in line to share a $25 million one-time payment when the world's largest pharmaceutical services company goes public.
Tags: large
pay
million
shareholders
Heinz agrees to give buyout data to shareholders
2013-04-03 10:20:11| Food - Topix.net
Attorneys for H.J. Heinz agreed Tuesday to turn over board minutes and other documents related to the proposed $28 billion buyout of the Pittsburgh ketchup maker to shareholders questioning the transaction.
Tags: data
give
agrees
shareholders
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