PAETEC Execs, Board Members Receive Windfall

Richard Aab and Arunas Chesonis were among the board members and executives who personally benefitted from the $2.3 billion sale of PAETEC to Windstream Corp., according to a report.

DT Ponders the Future of T-Mobile USA

Suffering from the global recession, its relatively smaller size as the No. 4 wireless carrier in the United States, and a late launch into 3G and smartphones, T-Mobile USA has become a problem for Deutsche Telekom. This week DT’s top shareholders gave it until the middle of next year to save T-Mobile USA. The Financial […]

Alltel Shareholders Approve Buyout

Alltel Corp. said Wednesday its shareholders have approved the $27.5 billion buyout by TPG Capital and GS Capital Partners. The company said approximately 97 percent of the shares voted in favor of the deal at a special meeting. The acquisition was announced in May. The Federal Communications Commission still must approve the transaction. Alltel, which […]

Inter-Tel Shareholders Approve Mitel Merger

Inter-Tel Inc. stockholders on Thursday approved the $723 million merger with Mitel Networks Corp. The company said early results indicate that 60 percent of its outstanding shares voted in favor of the transaction. We are pleased that Inter-Tel stockholders agreed with us that the Mitel merger represents the greatest value currently available to Inter-Tel stockholders […]

Inter-Tel Rejects Mihaylo Group’s Unsolicited Acquisition Proposal

Inter-Tel Inc. recently announced that a special committee of its board of directors, with the assistance of its financial and legal advisors, has rejected as inadequate an unsolicited acquisition proposal from Steven G. Mihaylo and Vector Capital (the Mihaylo Group) to purchase all shares of Inter-Tel, other than those held by Mihaylo, for cash at […]

PAETEC, US LEC in $450 Million Merger

Another set of CLEC mergers announced on Monday highlighted an industry that continues to consolidate to better compete against RBOC rivals. US LEC and PAETEC Communications Inc. said they are merging in a deal worth approximately $450 million, excluding debt. The numbers total $1.3 billion when adding in debt and preferred stock amounts. Charlotte, N.C.-based […]

The ID is: 84768