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Verizon to acquire Alltel for $28.1 billion

Published
by
multicellphone
on June 5, 2008
in Alltel and Verizon
. 0 Comments

Verizon to acquire Alltel for 28bnVerizon to acquire Alltel for $28.1 billion. Verizon Wireless has entered into an agreement with Alltel Corporation and Atlantis Holdings LLC, an affiliate of private investment firm TPG Capital and GS Capital Partners, to acquire Alltel Corporation in a cash merger. Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE and LSE: VOD). Under the terms of the agreement, Verizon Wireless will acquire the equity of Alltel for approximately $5.9 billion. Based on Alltel’s projected net debt at closing of $22.2 billion, the aggregate value of the transaction is $28.1 billion. Continue reading ‘Verizon to acquire Alltel for $28.1 billion’