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Alltel is officially off the market: FCC approves $24.7B private equity buyout

Ryan Block , @ryan

The FCC hath spake: TPG Capital and GS Capital Partners (a subsidiary of Goldman Sachs), the two private equity firms looking to buy out the paradoxically national-regional carrier Alltel, have been given the greenlight. The two firms will pony up $24.7 billion (about $2050 per customers) to take Alltel, flush with cash and new customers, off the public market, with the expectation of closing the deal by November 22nd and paying some $71.50 cash per share to current shareholders. Two words: cha-ching.

[Via MoCoNews]

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