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Stock Market & Financial Investment News

News Breaks
March 29, 2013
12:49 EDTPCS, DTEGYGlass Lewis urges MetroPCS shareholders to reject T-Mobile deal
P. Schoenfeld Asset Management, PSAM, announced that Glass Lewis, a leading provider of corporate governance services to institutional shareholders, has recommended MetroPCS (PCS) Communications shareholders vote against the proposed transaction between PCS and T-Mobile USA (DTEGY). Glass Lewis is the second independent proxy advisory firm that has recommended PCS shareholders vote against the proposed Transaction. On March 27, Institutional Shareholder Services, ISS, issued a report advising its clients to vote against the Proposed Transaction also. In its report, Glass Lewis stated, "We believe MetroPCS shareholders could likely realize additional value in the short-term if the Company remained a standalone company, given its continued strong performance and prospects, conducted a proper competitive sale process seeking additional competitive takeover proposals or attempted to secure improvements in the deal terms with Deutsche Telekom and T-Mobile. In our view, all of these options are likely superior, from a valuation standpoint, than the proposed transaction as presently constructed."
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August 1, 2014
14:05 EDTDTEGYIliad founder calls offer for T-Mobile 'fair,' WSJ reports
Iliad founder Xavier Niel says his offer for T-Mobile (TMUS) is "fair" and the only one that is real, Wall Street Journal reports. Niel says he would cut customer prices and look to trim $2B in costs at T-Mobile, the Journal adds.
09:12 EDTDTEGYDeutsche Telekom not interested in Iliad bid for T-Mobile, CNBC reports
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July 31, 2014
13:37 EDTDTEGYDeutsche Telekom views Iliad offer for T-Mobile as inferior, Bloomberg says
Deutsche Telekom views Iliad's offer T-Mobile (TMUS) as inferior to Sprint's (S) and is not formally engaged in talks with the French company, Bloomberg reports, citing sources. Shares of T-Mobile are off their highs but remain up 6% while Sprint shares are off their lows.

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