BellSouth Shareholders Approve AT&T Merger

BELLSOUTH SHAREHOLDERS APPROVE AT&T MERGER
[SOURCE: Multichannel News, AUTHOR: Karen Brown]
Taking another step toward the latest telco mega-union, BellSouth shareholders Friday overwhelmingly voted to approve the proposed merger with fellow regional Bell operating company AT&T. Under that plan, BellSouth shareholders will receive 1.325 AT&T shares for each of their BellSouth shares. That’s a 17.9% premium based on the two companies’ stock prices as of March 3, the day before the merger was announced. In a release, BellSouth chairman and CEO Duane Ackerman said there has been progress made toward gaining the needed regulatory approvals for the merger, which is expected to close this fall. After the merger closes, BellSouth will be a direct, wholly-owned AT&T subsidiary.
http://www.multichannel.com/article/CA6355378.html?display=Breaking+News

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* BellSouth Shareholders Vote Overwhelmingly to Approve Merger Agreement With AT&T
http://bellsouth.mediaroom.com/index.php?s=press_releases&item=2897