Interesting discussion by Ribstein, Bainbridge, and Hurt on the MCI-Verizon-Qwest merger dance.
I’m with Ribstein on this one–show me the money:
To echo my prior thoughts on this deal (see my post linked above, and link back to earlier posts) this doesn’t make sense for MCI shareholders. What they want is the best price they can get for their stock. If they think, having gotten this price, that Qwest-MCI is not the best investment for their portfolio, they can sell it and buy something else. Unless winning the bid causes Qwest stock to drop, the former MCI shareholders would have $4.00 more a share with which to make their alternate investment.
In other words, look at current value, and put away the crystal ball.
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