Friday, October 05, 2012
Akin Gump Strauss Hauer & Feld LLP advised a special committee of MetroPCS’ board as that company signed an agreement with Deutsche Telekom to combine T-Mobile USA and Texas-based MetroPCS into one unit under the “T-Mobile” name. If consummated, the deal would represent one of 2012’s largest deals to date in terms of transaction value.
The complex transaction sees MetroPCS conduct a 1-for-2 reverse stock split and pay out $1.5 billion in cash to its shareholders, among other deal components. The transaction is subject to MetroPCS shareholder approval, among other customary closing conditions, and is expected to close in the first half of 2013.
The Akin Gump team was led by Dallas corporate partners J. Kenneth Menges Jr., who co-chairs the firm’s corporate practice, and Robert W. Dockery, with assistance from Dallas corporate associate Adam D. Hilkemann.
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