Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Private Equity Binge Goes Wireless

Goldman Sachs, Texas Pacific Group will buy Alltel for $27.5B

By J. Kelman, Newser User

Posted May 21, 2007 10:18 AM CDT

(Newser) – A consortium led by the Texas Pacific Group and Goldman Sachs yesterday snapped up the nation's fifth-largest wireless provider for $27.5 billion, the largest telecom buyout ever. The $71.50 per share offer for Alltel awaits shareholder and regulatory approval and comes weeks before... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Arkansas Business Journal (Source Grid »)

Rival bidders say they weren't given fair shot to make deal
New York Times

New owners will face tough strategic decisions
Wall Street Journal Subscription

Alltel's partners made the company particularly attractive to bidders
Bloomberg

Shares up over 7% in morning trading
MarketWatch

Blogosophere responds

DealBreaker poll: What's with the rush to go private?
DealBreaker.com

bloggingstocks: "You can bet a solid plan is already in place."
Blogging Stocks

Money

private equity • Goldman Sachs • Texas Pacific Group • leveraged buyouts • business • telecom • acquisition • Alltell

More Newser Stories

KKR Dominates in '07 Buyouts

With 44% of this year's private equity deals, is firm spending too much too fast?

(NEWSER) - Private equity powerhouse KKR has been on a monumental spending spree this year, closing more than $120 billion in deals to date in 2007—more than twice its closest rival. Now the Financial Times wonders whether the veteran PE firm it may be hitting the market too forcefully. More»

FCC OKs $24.7B Alltel Buyout to Private Group

But wireless carrier's new owner faces "unnecessary" restrictions, commish says

(NEWSER) - The FCC approved a $24.7 billion takeover of Alltel yesterday, but not without imposing some restrictions on the deal and criticism from two of its top officials. Alltel, the nation’s fifth-largest wireless carrier, will now transfer its licenses to TPG Capital and GS Capital Partners, a subsidiary of Goldman Sachs, and its shareholders will bank $71.50/share, the AP reports. More»

$24B Buyout Buzz Boosts Macy's Shares

KKR and Goldman considering offer

(NEWSER) - Shares in Macy's soared amid reports of a pending $24-billion buyout plan by KKR and Goldman Sachs, reports Bloomberg. Stock rose $3.06—7.6%—to $43.09 after Women's Wear Daily reported the news. The Wall Street firms would pay $52 a share—a 30% premium on Wednesday's close, according to the report. More»

Gambling Firm Agrees to Buyout

Penn National Gaming changes hands for $8.9B

(NEWSER) - The casino-operator buyout spree continued today as Penn National Gaming agreed to be acquired by two private-equity firms for $8.9 billion. The deal, which allows the company to solicit bids for 45 days, includes $2.8 billion in debt. News of the $67-a-share offer, a 31% premium over yesterday's closing price, drove the stock up to $62.12 at close. More»

Hot LBO Market Takes Hit

As big-time deals struggle to manage debt, beware the Trojan piggy bank

(NEWSER) - The red-hot market for LBOs may be hitting a long-awaited rough patch. Several big deals—including Apollo's $1.3 billion Linens 'n Things buy and the multigroup $17.6 billion acquisition of Freescale Semiconductor Holdings—have turned sour, with the companies struggling to generate enough cash to pay down debt after soft quarters. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Private Equity Binge Goes Wireless

Goldman Sachs, Texas Pacific Group will buy Alltel for $27.5B

Related articles

Blogosophere responds

private equity • Goldman Sachs • Texas Pacific Group • leveraged buyouts • business • telecom • acquisition • Alltell

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

KKR Dominates in '07 Buyouts

With 44% of this year's private equity deals, is firm spending too much too fast?

FCC OKs $24.7B Alltel Buyout to Private Group

But wireless carrier's new owner faces "unnecessary" restrictions, commish says

$24B Buyout Buzz Boosts Macy's Shares

KKR and Goldman considering offer

Gambling Firm Agrees to Buyout

Penn National Gaming changes hands for $8.9B

Hot LBO Market Takes Hit

As big-time deals struggle to manage debt, beware the Trojan piggy bank

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?