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Private Investment Firms Buy-Out Alltel for $27.5 Billion

Categories: Alltel, Announcements
By: , IntoMobile
Monday, May 21st, 2007 at 12:20 PM

Alltel gets bought out by investment firms for $27.5BPrivate investment firms TPG Capital and GS Capital Partners have teamed up to buy-out Alltel for $27.5 billion. The buy-out represents a sale of $71.50 per share, compared to the $65.35 value on Friday, which should appease shareholders. The $27.5B deal includes an assumption of debt.

Barring any regulatory hiccups, this deal should get the greenlight sometimes soon. And, as these types of takeovers go, we should see the private investments firms selling Alltel a couple years down the road.

via: reuters

About The Author

Will Park

Will hails from The City of Angels - Los Angeles, California. He spends his time playing with his numerous gadgets and looking forward to seeing what future holds for mobile technology. An avid promoter of a fully "digital" life, he promotes the widespread adoption of truly mobile, paper-less living. He dreams of the day when he can go completely digital. No more snail mail, paper receipts, bound books, notepads/spiral notebooks, credit cards, hard currency. He's a digital warrior - fighting for the converged life. He is an idealist and a realist - he has a perfect view of what the world should be but knows that the world is not perfect. Can we ever hope to see Will's dream become reality? We'll see...

  • Chainsaw

    Alltel… who are they? Does anybody here use Alltel? I think Alltel is at its peak subscriber base and will disappear pretty soon once TPG Capital and GS Capital Partners realizes that most of the customers can’t even pay their bills since they provide service to anybody regardless of credit history.