NEW YORK, Oct. 4, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of MetroPCS Communications, Inc. ("MetroPCS" or the "Company") (NYSE: PCS) concerning the proposed acquisition of the Company by Deutsche Telekom ("Deutsche Telekom") to combine T-Mobile USA ("T-Mobile") and MetroPCS in a transaction valued at approximately $1.5 billion.
Under the terms of the proposal, MetroPCS will declare a 1 for 2 reverse stock split, make a cash payment of $1.5 billion to its shareholders (approximately $4.09 per share prior to the reverse split) and acquire all of T-Mobile's capital stock by issuing to Deutsche Telekom 74% of MetroPCS's common stock on a pro forma basis.
The investigation concerns whether MetroPCS's board of directors failed to adequately solicit competing bidders and obtain the best possible value for MetroPCS's shareholders before entering into an agreement with Deutsche Telekom. According at least one analyst, MetroPCS stock has a price target of $18.00 per share.
If you own MetroPCS shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
Attorney Advertising© 2012 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Harwood Feffer LLP