TPG, Goldman Private Equity Buy Alltel for $27.5 Billion
A pair of investment firms have agreed to acquire Alltel Corp., the fifth-biggest U.S. wireless company and owner of the nation's largest geographic network, in a deal worth $24.8 billion.
The telecommunications company announced Sunday that it had signed an agreement to be acquired by TPG Capital, formerly Texas Pacific Group, and GS Capital Partners, a subsidiary of Goldman Sachs. The investors also agreed to take on Alltel's $2.7 billion in debt.
"This transaction delivers substantial and certain value to our shareholders while providing the company with long-term partners who share our commitment to our customers, employees and the communities we serve," Scott Ford, Alltel's chief executive, said in a news release.
"This transac...
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The telecommunications company announced Sunday that it had signed an agreement to be acquired by TPG Capital, formerly Texas Pacific Group, and GS Capital Partners, a subsidiary of Goldman Sachs. The investors also agreed to take on Alltel's $2.7 billion in debt.
"This transaction delivers substantial and certain value to our shareholders while providing the company with long-term partners who share our commitment to our customers, employees and the communities we serve," Scott Ford, Alltel's chief executive, said in a news release.
"This transac...
(continues)
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What is your account number so I can process the credit for your cancellation fee, so that you can go find something "better"?
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Along those lines. I'm kinda surprised that we haven't seen anybody lining up to spout off about how Alltel being sold "violates" their contract and how they can get out of it without paying the Termination Fee!
Just wait, it's coming!
lol....
Just wait, it's coming!
lol....
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I think to get out of ur contract with that clause you have to have had a pricing change.. don't ya?
Will G.
Will G.
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I'm not suggesting it, only surprised that someone hasn't popped up saying that it was possible for the lemmings to try!
I'm just surprised, they've tried to jump ship with other companies for less.
I'm just surprised, they've tried to jump ship with other companies for less.
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There has been. There have been no pricing or plan changes--so there is no violation of the contract on Alltel's part.
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Alltel Wireless has been purchase by a group of investors not a wireless company therefor alltel wont be adapting to any new plans or prices. Therefor there will be no changes except that this new investment firm will have more money to spend on newer, nicer phones and also improve service and help push Alltel to the national level.
Source: Alltel Corporate
Source: Alltel Corporate
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