Alltel deal represents largest U.S. telecom LBO
Private-investment firms TPG Capital and GS Capital Partners have agreed to pay $71.50 a share for Alltel Corp. The $27.5 billion offer is the largest leveraged buyout in the history of the U.S. telecommunications industry and represents a 10% premium over the wireless carrier's Friday stock price. The deal must be approved by shareholders and regulators before its planned March 2008 close. ClipSyndicate (05/21), MarketWatch (05/21), CNNMoney.com/Reuters (05/21), International Herald Tribune (05/21)