March 13, 1999
AT&T Corp. got clearance from the Justice Department to buy IBM Corp.'s global communications network for $5 billion, with no conditions attached. AT&T says it could receive $2.5 billion in additional revenue in the first full year of operating the network.
July 26, 1997 |
One year after a pipe-bomb exploded in a crowded park during the 1996 Olympic Games in Atlanta, FBI agents seem no closer to solving the crime. Although they have pursued more than 13,000 leads resulting from public appeals for information, no arrests have been made. In fact, their only suspect so far proved to be a public relations disaster. That was Richard Jewell, a 34-year-old private security guard who was hounded by the media until he was officially cleared three months later.
March 28, 1997 |
Closing one of the worst flops in corporate-merger history, Quaker Oats Co. agreed Thursday to sell Snapple Beverage Corp. to Triarc Cos. for $300 million, only 27 months after Quaker spent $1.7 billion to buy the maker of trendy drinks. The Quaker-Snapple fiasco joins such ill-fated business marriages as AT&T Corp. and computer maker NCR and General Electric Co. and defunct brokerage house Kidder, Peabody & Co.
July 1, 2005 |
AT&T Corp. shareholders approved the company's $16-billion acquisition by SBC Communications Inc., which would create one of the world's largest phone companies. The merger has won regulatory approval in 26 states and still needs OKs from 10 additional states and the federal government. If it is approved, closing is expected late this year or early next year.
August 10, 2002 |
AT&T Corp., Lucent Technologies Inc. and other phone makers have agreed to pay up to $300 million to settle a class-action lawsuit accusing them of collecting exorbitant monthly rental fees for outdated or unused phones. The settlement, announced late Friday, was accepted by a Circuit Court judge in Illinois, where the case was set to go to trial this week.
September 21, 1995 |
Barely a decade after being broken up in the biggest corporate divestiture in history, AT&T Corp. said Wednesday it is breaking up again. Bucking the consolidation trend that is sweeping corporate America, the communications giant said that it will spin off its equipment business and its troubled computer business to focus on its core communications services operations.