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.


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