Just days after the Department of Justice cleared the proposed merger between MetroPCS (NASDAQ:TMUS) and T-Mobile, MetroPCS has sent a letter to shareholders urging them to vote for the deal. The company highlights the "significant benefits" to investors if the transaction were to go through.
The board went through a multiyear strategic review and has unanimously concluded that the T-Mobile combination is the best route. The combined company is expected to be worth more than the two separate companies. Among other things, MetroPCS says the merger would address some of the company's "critical spectrum needs and competitive disadvantages" while facilitating expansion into new markets.
MetroPCS also says there have been numerous misconceptions surrounding the deal and attempts to set the record straight regarding what it considers misleading inaccuracies, many of which relate to debt financing.
The special stockholder meeting is set for April 12.