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WorldCom's facility in Ashburn, Va. The company's bankruptcy reorganization plan, which includes changing its corporate name to MCI, was approved on Oct. 31. (Bill O'Leary - The Washington Post/File Photo)
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| | | | | | Michael D. Capellas | | | | | | | New CEO: No WorldCom Sell-Off Former Compaq chief Michael D. Capellas was tapped in 2002 to lead WorldCom through its bankruptcy and accounting problems. Capellas's first contract guarantees him $20 million in compensation over three years. | | | | | | |
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MCI Calls Qwest's Bid 'Superior' to Verizon's MCI Inc.'s board of directors embraced a cash-rich offer from Qwest Communications International Inc. after months of saying the company was a financially weaker and strategically less desirable merger partner than Verizon Communications Inc. -The Washington Post
Qwest's Revised Bid Expires Saturday Qwest increased its bid for MCI to $9.74 billion. The Denver company hoped its latest bid would entice MCI's board to break its $7.65 billion merger agreement with Verizon.-The Washington Post
Past Coverage
Qwest Raises Its Bid for MCI A Third Time (Post, April 22, 2005)
MCI, Verizon Move to Close $7.65 Billion Merger: Proxy Statement Argues for Deal As Some Shareholders Question It (Post, April 13, 2005)
Verizon Agrees to Buy Stake Of MCI's Biggest Shareholder: $1.1 Billion Purchase an Attempt to Shut Out Qwest's Bids (Post, April 10, 2005)
Qwest's MCI Bid Born of Need to Expand Its Base (Post, April 8, 2005)
Some Shareholders Criticize MCI Decision (Post, April 7, 2005)
MCI Again Rejects Qwest Merger Offer (Post, April 6, 2005)
MCI Encourages Qwest To Reopen Merger Talks: Bidder Sticks With Deadline Next Week (Post, April 2, 2005)
For Second Time, Qwest Raises Bid To Win MCI: New Takeover Try Adds $1.1 Billion in Battle With Verizon (Post, April 1, 2005)
Qwest Mulls Proxy Fight For MCI, Will Increase Bid (Post, March 31, 2005)
MCI Accepts Sweetened Verizon Bid Over Qwest: More Cash Offered; Value of Deal Raised To $7.65 Billion (Post, March 30, 2005)
MCI Accepts Verizon's $7.6B Offer (Post, March 29, 2005; 3:16 PM)
Qwest Gives MCI a Week to Accept Bid (Post, March 29, 2005)
Plan to Merge MCI, Qwest Has A Sour Ring to It (Post, March 28, 2005)
MCI to Continue Talks With Qwest: Takeover Bid to Be Examined Further (Post, March 24, 2005)
Two Styles, High Stakes: Leaders of Verizon and Qwest Court MCI With Different Methods (Post, March 23, 2005)
WorldCom Ex-Leaders Reach Deal In Lawsuit: Directors Personally Will Pay $20 Million To Shareholder Class (Post, March 19, 2005)
Qwest's Sweetened Offer Puts MCI on the Hot Seat: Board Must Choose: Money or Verizon's Stability? (Post, March 18, 2005)
J.P. Morgan Settles WorldCom Suit for $2 Billion (Post, March 17, 2005)
© 2002-2005 The Washington Post Company
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