ROW Short Takes
News | 08/24/2004 4:00 am EDT
TELUS extends offer for Microcell again
TELUS Corp. has again extended its unsolicited offer for Microcell Telecommunications Inc. by an additional 30 days. The offer will now expire on September 20. Despite TELUS’ ongoing efforts to remove the country’s smallest wireless operator from the competitive landscape, Microcell shareholders don’t appear to believe the offer is fair. Only a very small fraction of Microcell securities holders have tendered their securities. As of August 20, 682 Class A restricted voting shares had been tendered to the offer out of 183,340. There were 15,924 Class B non-voting shares tendered out of 29,131,974. There were 77,574 Warrants 2005 tendered out of the 3,998,302 and 60,766 Warrants 2008 tendered out 6,663,943.
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