North American Network Operators Group Date Prev | Date Next | Date Index | Thread Index | Author Index | Historical MCI Accepts Verizon's $7.6 Billion Offer
MCI Accepts Verizon's $7.6 Billion Offer Tue Mar 29, 2005 10:48 AM ET WASHINGTON (Reuters) - MCI Inc. said on Tuesday it accepted a revised takeover bid from Verizon Communications Inc. worth about $7.6 billion, rejecting a $8.45 billion offer from Qwest Communications International Inc. MCI said Verizon's revised offer includes $8.75 per MCI share in cash and $14.75 per MCI share in Verizon stock. Of the $8.75, up to $5.60 would be paid to MCI shareholders when the deal closes. The two companies also increased the termination fee Verizon would be owed if the deal falls through to $240 million. � Reuters 2005. All Rights Reserved. |