YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Verizon will acquire the equity of Alltel for about $5.9 billion, according to a news release. Based on Alltel's $22.2 billion projected net debt, the aggregate value of the transaction is $28.1 billion.
The deal should close by the end of the year.
Alltel was taken private just last November by TPG and Goldman Sachs Capital Partners for $27.5 billion, according to a CNBC.com report.
Alltel has 17 Springfield retail locations, according to its Web site, many under the Russell Cellular name. Verizon just landed in Springfield in March, with a retail location at 1155 E. Battlefield Road.
Verizon spokeswoman for southwest Missouri Brenda Hill said it's too early to say what the local impact of the acquisition could be, and until the transaction closes, the company will continue to think of Alltel as a competitor.
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