MetroPCS Board OKs Deutsche Telekom's Revised Offer

Law360, Washington (April 15, 2013, 6:34 PM EDT) -- MetroPCS Communications Inc.'s board of directors on Monday unanimously approved Deutsche Telekom AG's updated buyout offer to merge its subsidiary T-Mobile USA Inc. with the Texas wireless company, and urged shareholders to vote in favor of the package.

Under the revised buyout, MetroPCS stockholders will receive a $1.5 billion aggregate cash payment, or approximately $4.06 per share, and Deutsche Telekom cut $3.8 billion from the amount of debt the company would assume and half a percentage point from the interest rate on the borrowings.

The deal...
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