FCC Approves Alltel Aquisition

Alltel announced that the Federal Communications Commission has approved the company’s merger with TPG Capital and GS Capital Partners (GSCP).

Alltel expects the merger to close before Thanksgiving Day, Nov. 22. At close, Alltel shareholders will receive $71.50 per share in cash.

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.