Once again MCI has rejected the $9.1 billion bid offered by Qwest, and still going for the $7.65 billion offered by Verizon, because “MCI’s board also took into consideration a number of uncertainties in terms of value and likelihood of closing, including the negative sentiment among MCI customers toward a Qwest combination,” To me, it was a good choice.
However, big stockholders of MCI aren’t so happy about the decision made by the company, they believe that the company who pays more money should win the bid. “I haven’t found a single shareholder who supports Verizon’s bid,” aid Bill Miller, chief executive of Legg Mason Capital Management Inc., which owns 5.6 million shares of MCI stock. “We are not going to support the Verizon bid. It’s irrational,” he said, calling the MCI board’s decision “befuddled.”
One thing I have learned over the years: listen to the stock! After MCI rejected the offer, MCI shares rose 25¢ to $25.26 in midday trade, while Qwest fell 16¢ to $3.70 and Verizon climbed 22¢ to $35.59. Now smart ones, what does the people say? 1. Qwest stockholders are losing faith in their company. 2. More people believe Verizon will do better than Qwest.
3. Joe is cute
this was supposed to be samantha, but somehow joe turned up
Man, you’re making me more tired than Eric’s blog. And his is about being tired!
sullivat is da bomb
..and that was supposed to be sullivat
what happened to all your updates?
or lack thereof.
ouch, spammed.