LITTLE ROCK, Ark.--(BUSINESS WIRE)--Nov. 16, 2007--Alltel today
announced that it has completed the closing of its merger with an
affiliate of TPG Capital and GS Capital Partners (GSCP). Holders of
Alltel common stock will receive $71.50 per share in cash under the
terms of the merger agreement, which was adopted by Alltel
shareholders at a special meeting on August 29, 2007.
As a result of the transaction, Alltel's stock will cease trading
on the New York Stock Exchange at close of market today.
"This transaction delivers substantial value to our shareholders,
and we want to thank them again for their support through the years,"
said Scott Ford, Alltel's president and chief executive officer.
Alltel operates America's largest wireless network, which delivers
voice and advanced data services nationwide to more than 12 million
customers. Headquartered in Little Rock, Ark., Alltel is a Forbes 500
company with annual revenues of nearly $8 billion. For more
information, please visit www.alltel.com.
Alltel, NYSE: AT
Andrew Moreau, 501-905-7962
Vice President - Corporate Communications
Tim Hicks, 501-905-8991
Director - Investor Relations