CenturyLink's (NYSE: CTL) proposed multi-billion stock merger with Qwest (NYSE: Q) may be far from a done deal, but already some shareholders are claiming that they are being shortchanged.
Two Qwest investors--Lorrieann Martin and Mark Respler--have sued Qwest claiming they are owed more money from the deal. These investors have asked a judge to block the deal and award them associated damages in a suit filed in Delaware Chancery Court in Wilmington.
In Martin v. Qwest Communications International Inc., these investors argue that selling Qwest at what they believe is a "relatively low current trading price in a recession-depressed market raises serious red flags" on whether company directors have crafted a deal that maximizes shareholder value.
Not surprisingly, Qwest has declined to comment on the case.
- Bloomberg has this article
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