TC Investments Corporation used cash to purchase all the outstanding MCI Class A common stock from British Telecommunications (BT)for $51 per share.BT had acquired the MCI Class A common stock two years earlier in a failed merger attempt involving BT and MCI.In addition,TC Investments Corporation used WorldCom stock to acquire all outstanding shares of regular MCI common stock from other MCI shareholders.In this exchange,MCI shareholders received 1.2439 shares of WorldCom stock for each share of regular MCI common stock surrendered.TC Investments Corporation paid cash in lieu of issuing fractional WorldCom shares to MCI shareholders who were entitled to such fractional shares.More than 50% of the consideration used to acquire MCI was composed of WorldCom stock.

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The Answer of TC Investments Corporation used cash to purchase all the outstanding MCI Class A common stock from British Telecommunications (BT)for $51 per share.BT had acquired the MCI Class A common stock two years earlier in a failed merger attempt involving BT and MCI.In addition,TC Investments Corporation used WorldCom stock to acquire all outstanding shares of regular MCI common stock from other MCI shareholders.In this exchange,MCI shareholders received 1.2439 shares of WorldCom stock for each share of regular MCI common stock surrendered.TC Investments Corporation paid cash in lieu of issuing fractional WorldCom shares to MCI shareholders who were entitled to such fractional shares.More than 50% of the consideration used to acquire MCI was composed of WorldCom stock.

TC Investments Corporation Used Cash to Purchase All the Outstanding