MetroPCS Readies Shareholder Vote on T-Mobile Bid
MetroPCS today filed paperwork with the Securities and Exchange Commission concerning T-Mobile USA's proposed acquisition of the company. MetroPCS has scheduled a shareholder vote for March 28, and it is urging shareholders to approve the deal. "After a multi-year, thorough review of MetroPCS' options, with the assistance of independent financial and legal advisors, the MetroPCS board determined that this proposed combination is the best strategic alternative for our stockholders," said MetroPCS. Together, MetroPCS shareholders will receive about $1.5 billion in cash along with shares of the new company. The deal has yet to receive U.S. regulatory approval.