DT can achieve a “merge” by other means.
Instead of spending its own money, DT can simply have TMUS use its own cash flow to buy back public stock. Since DT keeps its own shares locked, shrinking the public pool automatically increases DT’s ownership toward 80% at which point they can legally and automatically buy out the remaining 20% giving them 100% control.
This means that DT will most likely continue forcing customers onto more expensive plans to spike immediate revenue, continue making deep cuts by laying off employees, and possibly dismantle certain lines of business - all in favor of automated software and T-Life app.
This is just a theory but keep an eye out so you’re prepared.