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Sprint Board Blocks MetroPCS Merger

Friday, February 24, 2012 | ,

Dan Hesse's Sprint Board Blocks Metro PCS Merger 
Today, David Faber of CNBC reported that Sprint (NYSE: S) and regional carrier MetroPCS (NYSE: PCS) were hours from announcing an $8 billion merger.  For some reason Sprint's board rejected it even after it had CEO Dan Hesse's blessing.  This is not exactly a vote of confidence by the Board and brings into question the longevity of Dan's current job as CEO.  I happen to like Dan and think he is a great CEO.  I would be curious to see who were the dissenting votes on the Board?  Where the dissenting votes simply trying to protect their Director jobs?  Does anyone know what happened with the Board of Directors and why they would have rejected the deal?

Sprint's Board of Directors including Dan Hesse includes:  Robert R. Bennett, Gordon M. Bethune, Larry C. Glasscock, James H. Hance, Jr., Daniel R. Hesse, V. Janet Hill, Frank Ianna, Sven-Christer Nilsson, William R. Nuti, Rodney O'Neal.
Robert R. BennettGordon M. BethuneLarry C. GlasscockJames H. Hance, Jr.V. Janet HillFrank IannaSven-Christer NilssonWilliam R. NutiRodney O'Neal

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