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Teleport Communications Group Inc. 's {TCGI} (TCG) announcement that it will buy ACC Corp. {ACCC} for $1 billion in a stock-for-stock exchange has annoyed rival bidder Tel-Save Holdings Inc.
The last-minute deal between Teleport and ACC marked the second deal a one-week period to go sour for Tel-Save, which also lost out when Shared Technologies Fairchild Inc. {STCH} accepted a merger offer from Intermedia Communications {ICIX} (CT, 11/24). Tel-Save Chairman and CEO Daniel Borislow issued a sarcastic, sometimes rambling statement in response to the Teleport announcement.
"I will be expecting a call from someone concerning my stock position...