advertisement

Shareholder challenges CenturyTel takeover of Embarq

Wednesday, December 24, 2008 | 11:51 a.m. CST; updated 11:57 a.m. CST, Wednesday, December 24, 2008

OLATHE — Embarq Corp. is facing a lawsuit from a shareholder seeking to halt its acquisition by telecommunications company CenturyTel.

Richard Tyner filed the lawsuit earlier this month in Johnson County District Court. The would-be class action accuses corporate officials at the Overland Park-based Embarq of ignoring higher and better offers from other suitors so they would receive well-paid positions at CenturyTel.

The lawsuit asks the court to rule the acquisition agreement unlawful and order the company to get a better deal.

An Embarq spokesman said the lawsuit had no merit and that the company chose the most beneficial deal.

Shareholders of the two companies are scheduled to vote on the deal next month.

 


Like what you see here? Become a member.


Show Me the Errors (What's this?)

Report corrections or additions here. Leave comments below here.

You must be logged in to participate in the Show Me the Errors contest.


Comments

Leave a comment

Speak up and join the conversation! Make sure to follow the guidelines outlined below and register with our site. You must be logged in to comment. (Our full comment policy is here.)

  • Don't use obscene, profane or vulgar language.
  • Don't use language that makes personal attacks on fellow commenters or discriminates based on race, religion, gender or ethnicity.
  • Use your real first and last name when registering on the website. It will be published with every comment. (Read why we ask for that here.)
  • Don’t solicit or promote businesses.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report comment" link.

You must be logged in to comment.

Forget your password?

Don't have an account? Register here.

advertisements