Simpson Thacher Represents J.P. Morgan as Financial Advisor to CenturyTel in its Acquisition of Qwest
04.23.10
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The Firm is representing J.P. Morgan Securities Inc. in its role as financial advisor to CenturyTel, Inc. (“CenturyTel”) in connection with CenturyTel’s acquisition of Qwest Communications International, Inc. (“Qwest”) in a stock-for-stock transaction valued at approximately $22.4 billion. Under the terms of the agreement, Qwest shareholders will receive 0.1664 of a share of CenturyTel stock for each share of Qwest stock valuing Qwest at approximately $10.6 billion. In addition, CenturyTel will assume approximately $11.8 billion of net debt owed by Qwest. Subject to customary closing conditions, the deal is expected to close in the first half of 2011.
CenturyTel is an integrated communications company engaged primarily in providing a range of communications services, including local and long distance voice, wholesale local network access, high-speed Internet access, other data services and video services.
The Simpson Thacher team includes Gary Horowitz, Rob Spatt and William Freiberg.