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Deephaven Wants to Deep-Six MCI-Verizon Qwest has said it's time to move on after MCI accepted a lower takeover offer from Verizon, but Deephaven Capital
http://www.pricecommunications.net/mp/similar.asp?w=200956&simtitle=A+Continuing+Qwest+For+MCIHOME |
Qwest CEO Richard Notebaert has said it's time to move on after MCI accepted a lower takeover offer from Verizon, but at
least one institutional investor isn't ready to give up.
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Deephaven Wants to Deep-Six MCI-Verizon. The institutional investor urges fellow MCI shareholders to reject Verizon's offer, hoping that Qwest will re-bid.
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MCI-Verizon Merger Vote Set::
•Deephaven Wants to Deep-Six MCI-Verizon And with the pending merger of SBC and AT&T, neither wants to be left behind by the wave of industry
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Deephaven Capital, which owns nearly 5 percent of MCI shares, is launching a
last-ditch effort to convince other shareholders to reject the Verizon
deal in hopes that Qwest will return to the table.
God hates AT&T, MCI, Verizon and homosexuals - play.tm::
Deephaven Wants to Deep-Six MCI-Verizon. internet.com The institutional investor urges fellow MCI shareholders to rejectVerizon's offer, hoping that Qwest
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"Deephaven believes that the proposed merger between Verizon and MCI is not
in the best interests of MCI stockholders," the hedge fund said in a filing
with the Securities and Exchange Commission. "We are soliciting your proxy
to vote against the proposed merger with Verizon."
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Former FEC Chairman Resigns - 06/15/2005 Yahoo Buys Into VoIP - 06/15/2005 Deephaven Wants to Deep-Six MCI-Verizon - 06/15/2005
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MCI will hold a special shareholder meeting this summer to vote on Verizon's
$8.4 billion offer. The Ashburn, Va., long- distance and network services
provider said an exact date has not yet been set.
Deephaven preferred Qwest's $9.7 billion offer; however MCI's board felt
Verizon was the better partner. Among the factors cited by
MCI were: Qwest's overall financial picture; questions about its ability to
invest in new capabilities; doubts about synergies; and feedback from
current enterprise customers.
Deephaven acknowledges it has "no knowledge of Qwest's plans or intentions to engage in a merger
combination with MCI in the event that the merger with Verizon is voted
down, and there can be no assurance that Qwest will make another bid for
MCI."
A spokesman for Denver-based Qwest was not immediately available for
comment.
Qwest and Verizon pursued MCI because of its large IP data-service deals
with government agencies and corporations. And with the pending merger of
SBC and AT&T, neither wants to be left
behind by the wave of industry consolidation.
The Baby Bells consider those long-term, high-margin contracts crucial to
their future prosperity, as cable operators, VoIP upstarts and wireless
carriers try to hone in on their traditional businesses.
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Deephaven Wants to Deep-Six MCI-Verizon