$1.5B T-Mobile, MetroPCS Deal Takes Flak Over Debt Load

Law360, New York (February 7, 2013, 4:24 PM EST) -- A hedge fund that controls about 2 percent of MetroPCS Wireless Inc. said Thursday it would vote against the company's $1.5 billion merger with T-Mobile USA Inc., saying the deal includes too much debt at terms “that are not based on any market reality.”

P. Schoenfeld Asset Management LP, which owns 7.5 million MetroPCS shares, threatened to vote against the deal unless changes are made to the capital structure and debt terms. The merger, announced in October, requires approval by a majority of both companies' shareholders....
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