Monday, February 14, 2005

WSJ.com - Verizon Agrees to Buy MCI for $6.75 Billion

WSJ.com - Verizon Agrees to Buy MCI for $6.75 Billion: "Verizon Communications Inc. announced Monday it will acquire MCI Inc. for $6.75 billion in cash, shares and dividends, marking the end of the last independent long-distance giant in the U.S.
The two companies said Verizon will pay $4.8 billion in stock and $488 million in cash under the deal. The transaction values MCI at $20.75 a share, they said. Verizon's deal follows a $6.3 billion bid that MCI received from Qwest Communications International Inc. in early February.
MCI also said Monday that its revenue fell 10% in the latest quarter."
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