January 12, 2005
ALLTEL Corporation reaches agreement to purchase Western Wireless Corporation in a stock-and-cash transaction (including assumption of debt).
On January 10, it was announced that Little Rock, Ark.-based ALLTEL Corporation has reached an agreement to purchase Western Wireless Corporation in a stock-and-cash transaction valued at approximately $6 billion (including assumption of debt). ALLTEL will gain about 1.4 million domestic wireless customers in 19 Western and Midwestern states and 1.6 million international customers in six countries. Upon completion of the transaction, ALLTEL will be the nation’s fifth largest wireless carrier with 10 million domestic wireless customers serving a population of 72 million in 33 states. Willkie represented ALLTEL financial advisors Merrill Lynch & Co. and Goldman, Sachs & Co. in this transaction. The deal is expected to close by mid-year 2005. As reported in the January 13 edition of the New York Law Journal, Willkie partner Steven Seidman and associate Matthew Lux handled the deal.
