Qwest/CenturyTel Merger
On April 22, CenturyTel Inc. (NYSE: CTL) announced the acquisition of Qwest Communications International Inc. (NYSE: Q) in a stock swap worth $10.6 billion.
The combined company would service 18 million phone lines in 37 states, but will still lag far behind industry leaders AT&T Inc. (NYSE: T) and Verizon Communication Inc. (NYSE: VZ).
Shareholders of Qwest would receive 0.1664 CenturyTel shares for each share that they own. Qwest stockholders would own 49.5 percent of the combined company, with CenturyTel stockholders controlling the rest.
The deal is expected to close in the first half of 2011, and the boards of both companies will have to approve the tax-free acquisition. The deal would save an estimated $625 million over the three to five years following the close.
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FBR Capital Maintains a 'Market Perform' on Qwest (Q); 4Q10 Review: Results Largely In-line with Expectations; Trends Continue to Improve Ahead of Merger
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Trading Radar for 02/15: Dell (DELL), Sirius XM (SIRI), Capella Edu. (CPLA), Tesla Motors (TSLA) Cray (CRAY) Report
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CenturyLink (CTL), Qwest (Q) Receive Nebraska PSC Approval for Pending Merger
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CenturyLink (CTL), Qwest (Q) Reach Agreement with Washington UTC and Public Counsel Over Proposed Merger
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UPDATE: Nomura Initiating Coverage on Qwest Communications (Q)
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Nomura Starts Q, T, CTL at Buy, S, VZ, FTR at Neutral
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CenturyLink (CTL) Announces Regional Structure Following Qwest (Q) Merger
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Ticonderoga Maintains a 'Neutral' on Evercore Partners (EVR); Dynegy Breakdown Highlights "Key Deal" Risk for EVR
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CenturyLink (CTL), Qwest (Q) Reach Agreement with Cox Comm Regarding Pending Merger
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Q3 Preview: Dividend Favorite Frontier (FTR) Could See Boost from Completed Verizon Acquisition (VZ, CTL, WIN, Q)
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Gabelli Downgrades CenturyLink (CTL) to Hold; Valuation Call
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Trading Radar for 11/03: Time Warner (TWX), MGM Resorts (MGM), News Corp. (NWSA), Transocean (RIG) Report
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Barclays Maintains an 'Overweight' on Adtran; More of the Same = Good Things for ADTN
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CenturyLink (CTL) and Qwest (Q) Receive Merger Approval in Several States and D.C.; Antitrust Granted by FTc and U.S. DoJ
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Goldman Sachs Upgraded CenturyLink (CTL) and Qwest (Q) to Buy
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Fontier Communications (FTR) Provides Investors with a Solid 'Triple Play' - Barron's
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CenturyTel (CTL) and Qwest (Q) Shareholders Approve Merger Agreement

