Alltel Going Private, Bought Out For $27.5 Billion

Alltel Going Private, Bought Out For $27.5 Billion

Big news for 12 million Alltel Wireless subscribers, Alltel has been bought out for $27.5 billion and will be taken private by its new owners. From SmartMoney:

The deal must be approved by Alltel’s shareholders and by regulators. It is expected to close by March 2008.