November 25, 2011 |
The end might be near for AT&T Inc.'s proposed $39-billion purchase of T-Mobile USA Inc. Facing growing opposition, telecommunications giant AT&T announced Thursday that it is withdrawing its merger plan from further consideration by the Federal Communications Commission. Instead, it said it would concentrate first on winning approval from the U.S. Justice Department, which sued to stop the purchase. And, in case the deal collapses, the company said it's setting aside $4 billion it would owe in breakup fees to T-Mobile's German owner, Deutsche Telekom.
August 31, 2011 |
It may take a breakup to prop up T-Mobile USA Inc. The telecom company could come away with billions of dollars in cash and services if an acquisition bid from rival AT&T Inc. falls through; that's a real possibility after the Justice Department on Wednesday moved to block the deal on antitrust grounds. If the $39-billion deal disintegrates, AT&T would have to pay more than $3 billion in cash to T-Mobile's German parent, Deutsche Telekom, along with airwaves and a roaming agreement worth billions more.
July 9, 2009 |
A bidding war over data storage company Data Domain is over, with EMC emerging as the victor. Data Domain Inc. said it had agreed to be acquired by EMC Corp. for $33.50 a share in cash, about $2.1 billion. The company ended its agreement to be acquired by NetApp Inc. and paid a $57-million breakup fee. NetApp said it had decided not to revise its buyout offer of $30 a share in cash and stock for Data Domain.
May 29, 2008 |
CKX Inc., owner of the "American Idol" brand, said Wednesday that it had agreed to a revised buyout offer valued at $1.19 billion from a group led by CKX Chief Executive Robert F.X. Sillerman, called 19X Inc. The revisions include an increased breakup fee payable to CKX if the acquisition isn't completed by a new deadline of Oct. 31, CKX said. New York-based CKX will also conduct a new "go shop" period of 45 to 60 days while the company seeks better offers. 19X's offer is for $12 a share.
April 8, 2005 |
ChevronTexaco Corp.'s $16.4-billion plan to acquire Unocal Corp. includes a $500-million breakup fee if the transaction is canceled. A Securities and Exchange Commission filing by San Ramon, Calif.-based ChevronTexaco disclosed details of the termination fee it would be paid. The deal was announced Monday.
March 5, 2003 |
EchoStar Communications Corp. said Tuesday that it had a wider fourth-quarter loss after paying a $600-million breakup fee to Hughes Electronics Corp., while revenue and the number of subscribers rose more than analysts had forecast. EchoStar's Dish system, the second-largest U.S. satellite broadcaster, added 400,000 users in the quarter to end the year with 8.18 million, the company said. Revenue rose 15% to $1.32 billion, beating the $1.