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  • bcohen1983 bcohen1983 Apr 10, 2013 12:16 AM Flag

    Deutsche Telekom Tallies MetroPCS Votes to Weigh Bid

    Finally, some interesting news. Google the topic title for the article. DT is holding out to see if the votes are adding up favorably before potentially making a last-minute adjusted offer, which could delay the vote by two weeks. Either way the vote has to happen by mid-May, so if the vote IS delayed again, this will likely be the last time.

    From the article:

    "MetroPCS shareholders are sending in their proxy documents in advance of an April 12 meeting, and Deutsche Telekom can monitor the results in real time, giving it an early warning if the measure is going to fail. The German carrier is considering an option to delay the final tally if victory appears unattainable, providing a chance to improve its bid, people familiar with the matter said.

    Deutsche Telekom is still optimistic its proposal can win shareholders’ approval without a sweetened offer, said the people familiar with the matter, who asked not to be named because the deliberations are private.

    A delay would push back the vote about two weeks, since the U.S. Securities and Exchange Commission would require the filing of a new proxy statement, the people said."

    Sentiment: Hold

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