February 14, 2005
Valentine's Day Merger
Posted by Christine Hurt

A lot of men (and women) propose on Valentine's Day, and so did Verizon. Verizon's proposal to MCI is valued about $6.75 billion, up from Qwest's $6.3 offer. The official wedding announcement is here.

Interestingly, share prices in MCI dropped while Verizon rose. Perhaps investors were hoping for another suitor.

Meanwhile, I can find no confirmation of pre-Valentine's Day buzz that Ben Affleck would propose to Jennifer Garner today. Of course, it's early in California.

ADDITION: The NYT today reports on page A18 that Qwest raised its earlier bid to $7B. The WSJ reports that the raised bid was $7.3B, but that the MCI board felt that the lesser Verizon bid was superior. Hmmm. I feel like I've read some cases about situations like that.

M&A | Bookmark

TrackBacks (0)

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8345157d569e200d8350e890753ef

Links to weblogs that reference Valentine's Day Merger:

Bloggers
Papers
Posts
Recent Comments
Popular Threads
Search The Glom
The Glom on Twitter
Archives by Topic
Archives by Date
September 2014
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30        
Miscellaneous Links