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Business
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| Number of pages / Number of words: |
3 / 772 |
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MCI shareholders received 0.5743 shares of Verizon and a cash payment of $2.738 per MCI share. As part of the acquisition, the former CEO of MCI, Michael Capellas left the company and received a hefty payout of almost $40 million (Computer Business Review, January 9, 2006).
On August 12, 2005 Sprint completed its $35 billion merger with Nextel...
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Although billed as a merger of equals, many in the industry believed it to be Sprint acquiring Nextel. The strategy behind this acquisition was slightly different from the acquisitions by SBC and Verizon. According to Sprint-Nextel CEO Gary Forsee, Sprint's vision was to converge the two companies "unique wireless and Internet wireline assets to create an entirely new suite of mobility and IP-based products and services" (Michael, June 26, 2006)...
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