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Shareholders can't connect to TDS plan. (Telephone & Data Systems Inc.'s restructuring plans)
Crain's Chicago Business, April, 1998 by Cahill, Joseph B.
Firm's complex revamp makes everyone fume Telephone & Data Systems Inc. is struggling to hold together a restructuring plan slated for a shareholder vote today. Designed to mollify rebellious shareholders of the Chicago-based telecommunications holding company, the complex deal is under fire from dissident investors in two publicly traded subsidiaries.
They argue that the deal shortchanges them. Telephone & Data Systems (TDS) management is hinting at a sweetener for subsidiary shareholders, whose support is necessary to complete the deal as planned. But if the subsidiaries get too much, outside shareholders of the parent company may revolt again. "We've never seen anything like this before," says Shirley Westcott of Institutional Share: holder Services (ISS) in...
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