MetroPCS Moves Merger Vote Back and Faces Another Challenge
Mar 2nd 2013 12:07PM
Updated Mar 3rd 2013 7:15AM
MetroPCS yesterday announced that it's moving the date back for the special stockholders' meeting it called to vote on the company's proposed merger with T-Mobile USA.
The new date for the meeting will be April 11. The original date of March 28 was changed to correct an administrative error, according to the company.
At that meeting, MetroPCS will have to contend with yet another major stockholder that has stated its opposition to the merger.
Paulson & Co., the largest holder of MetroPCS common stock with a 9.9% share, on Friday filed with the Securities and Exchange Commission its intent "to vote against the MetroPCS/T-Mobile transaction."
Paulson joins P. Schoenfield Asset Management as the second large stockholder to voice unhappiness with the deal. Schoenfield holds 2% of MetroPCS common stock.
The article MetroPCS Moves Merger Vote Back and Faces Another Challenge originally appeared on Fool.com.Fool contributor Dan Radovsky and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.