PSAM Terminates Proxy Solicitation Campaign Against MetroPCS / T-Mobile
NEW YORK, April 16, 2013
NEW YORK, April 16, 2013 /PRNewswire/ --P. Schoenfeld Asset Management LP
("PSAM") today announced that, based on the improved terms offered by Deutsche
Telekom and the circumstances that exist at the present time, it has withdrawn
its proxy solicitation campaign opposing the proposed combination between
MetroPCS Communications, Inc. ("PCS" or the "Company") and T-Mobile USA, Inc.
PCS shareholders who previously submitted a signed WHITE proxy card without
instructions, or with instructions to vote "AGAINST" each of the PCS Special
Meeting Proposals (as defined in the Proxy Statement), should be aware that
your shares will be voted "AGAINST" each of these Proposals unless you take
the necessary action to revoke your proxy.
If you are a record holder of PCS common stock, you may revoke your proxy by:
1.Delivering a written revocation to MetroPCS's Corporate Secretary, at its
principal executive office, located at 2250 Lakeside Boulevard,
Richardson, Texas 75082 or to Innisfree M&A Incorporated, at 501 Madison
Avenue, 20th Floor, New York, NY 10022;
2.Submitting another valid proxy card with a later date;
3.Voting by submitting a proxy by telephone or Internet prior to the April
24^th Special Meeting; or
4.Attending the April 24^th Special Meeting in person and giving MetroPCS's
Inspector of Elections notice of your intent to vote your shares in
If your shares are held in street name, you must contact the record holder of
your PCS common stock in order to revoke your proxy or follow the voting
instructions provided by the record holder.
Your latest-dated proxy is the only one that counts. You do not need to
contact the PSAM Group in order to revoke any previously granted proxy you may
have given by submitting a WHITE proxy card; your submission of your vote via
the instructions in the GREEN proxy card provided by MetroPCS is sufficient to
revoke your WHITE proxy card.
P. Schoenfeld Asset Management LP ("PSAM") was founded by Peter M. Schoenfeld
and has been providing investment advisory services since 1997. PSAM invests
on behalf of its clients in both equity and credit securities in global event
driven opportunities, including: international consolidations, corporate
restructurings, spin-offs, divestitures, and stressed and distressed credits.
PSAM is based in New York and is registered with the SEC and has an affiliate
located in London which is authorised and regulated by the FSA.
For Investor Inquiries:
Arthur Crozier/Scott Winter
Innisfree M&A Incorporated
For Media Inquiries:
Steve Bruce/Catherine Jones
SOURCE P. Schoenfeld Asset Management (PSAM)
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