Monday, May 21, 2007
Good news for AllTel, cashing out to PE buyers to the tune of $27+ billion. What caught my eye was this story, claiming that this deal pre-empted a process AllTel was running and caught other potential bidders napping. That could be true, although presumably at a minimum calls were made and no one was able to react in time. Obviously, if presented with a tight time frame, AllTel would need to take the (attractive) bird in hand. Doubtful the deal contains a go-shop, and at this valuation and what is likely a $1B+ break-up fee, I wouldn't expect to see any interlopers.