Just when you thought the Qwest-Verizon-MCI drama was over, it's not.
On Thursday Qwest upped its bid once again for MCI, adding another $500 million to its offer. Qwest's new offer of almost $9 billion trumps its previous bid of $8.45 billion and Verizon's sweetened offer of $7.6 billion. MCI announced on Tuesday that it had accepted Verizon's revised offer.
Qwest has already set a deadline of April 5th for MCI's board to consider its offer. After the deadline, Qwest has said it will withdraw its offer.
But there are indications that Qwest may not give up so easily. Yesterday, the company said it had hired a proxy consultancy, which could mean that it plans to take its offer directly to shareholders, bypassing the board of directors altogether.