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.
Customer Satisfaction Dwindles Across Information Sector; Apple Makes Strong Debut ANN ARBOR, Mich.--(BUSINESS WIRE)-- Much like employment numbers, the ACSI continues on a path of steady but mediocre growth, according to a report released today by the American Customer Satisfaction Index (ACSI). Aggregate satisfaction is up 0.1% to 75.9 on a 0 to 100 scale, following gains in four of the last five quarters of measurement. “Stronger customer satisfaction, particularly with domestic goods and services, would help spur economic growth, but only if household ...
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