Hart-Scott-Rodino waiting period on T-Mobile-MetroPCS deal has expired- unblocked cell phones
MetroPCS shareholders will receive $4.09 a share in cash plus 26% of the remaining company. The remaining 74% of the new company will be owned by T-Mobile parent Deutsche Telekom. With the conclusion of the 30 day Hart-Scott-Rodino Act waiting period, all that is required to close the deal is the approval of MetroPCS shareholders. The vote was originally scheduled to take place on March 28th, but an administrative error has forced MetroPCS to push back the date of the vote to April 12th. Shareholders of record on the close of business on March 11th will be able to vote on the deal, which has been contested by a pair of hedge funds that together own 11% of MetroPCS stock. The pre-paid carrier is recommending that its holders approve the deal.
If the shareholders approve the deal, which is likely, the final steps will include final regulatory approval and customary closing conditions.