Lumen Technologies Announces Commencement Of Consent Solicitation In Connection With Completion Of TSA Transactions; Closing Of TSA Transactions Expected By End Of Month
Portfolio Pulse from Benzinga Newsdesk
Lumen Technologies, Inc. (NYSE:LUMN) has initiated a consent solicitation to amend indentures and facilitate the completion of transactions under a previously disclosed transaction support agreement (TSA). The company aims to close the TSA transactions by the end of the month, pending the satisfaction of remaining conditions. Guggenheim Securities, LLC and Wachtell, Lipton, Rosen & Katz are advising Lumen on the TSA.
March 11, 2024 | 1:16 pm
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Lumen Technologies is proceeding with a consent solicitation to amend indentures for the completion of TSA transactions, with closure expected by the end of the month.
The initiation of the consent solicitation by Lumen Technologies indicates progress towards finalizing the TSA transactions, which could positively impact investor sentiment and potentially the stock price in the short term. The involvement of reputable advisors like Guggenheim Securities and Wachtell, Lipton, Rosen & Katz further adds credibility to the process, potentially boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100