Simpson Thacher Represents JP Morgan in Merger of EMBARQ and CenturyTel
10.28.08
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Simpson Thacher is representing JP Morgan in its role as financial advisor to EMBARQ Corporation in connection with EMBARQ's acquisition by CenturyTel, Inc. in a tax free, stock-for-stock transaction valued at approximately $11.6 billion, including the assumption of $5.8 billion of EMBARQ's debt. Upon closing of the transaction, EMBARQ shareholders are expected to own approximately 66% and CenturyTel shareholders are expected to own approximately 34% of the combined company. The transaction will create one of the leading communications companies in the United States with an operating presence in 33 states with approximately eight million access lines and two million broadband customers.
The Simpson Thacher attorneys representing JP Morgan on this matter are Rob Spatt and Rhett Van Syoc.