Re: Hyperscalers shopping for Telcom assets?
CTL is just trying to prevent a hostile takeover with their poison pill. When the stock price is low, like $10, a hostile person or company may might offer stockholders $15 per share and get the majority of stockholders to approve the deal. But first, the takeover company would want to purchase as many votes (shares) as possible at the lower price. The Board sees the underlying value of CTL and would hold out for a much higher price.
With a year of approvals ahead I do not see how a friendly merger would be affected by the poison pill. They could be negotiating, shopping, or at least feeling each other out right now. The boards job would be to get us the highest possible price when the deal closes.