MetroPCS Communications, Inc. (PCS) in a letter to stockholders, said, its board unanimously recommends that stockholders vote their shares for all of the proposals relating to the proposed combination with T-Mobile USA. MetroPCS noted that the failure to vote or an abstention at the special meeting of stockholders on April 12, will have the same effect as a vote against the proposed combination.
The company said there can be no assurance that MetroPCS will be able to deliver the same or better stockholder value as a stand-alone wireless company in the future. MetroPCS said stockholders should not assume that another buyer will acquire the company if the proposed combination is not approved.
The proposed combination will provide stockholders with an immediate $1.5 billion aggregate cash payment, or approximately $4.06 per share, as well as an approximate 26% ownership stake in the combined company that allows stockholders to participate in the expected significant equity upside of the combined company, MetroPCS said.
For comments and feedback: editorial@rttnews.com