Firm Partners noted for representation of BellSouth Corp. in its joint acquisition with SBC Communications Inc. of AT&T Wireless Services, Inc., <em>New York Law Journal</em>, "New Deals"

Firm Partners noted for representation of BellSouth Corp. in its joint acquisition with SBC Communications Inc. of AT&T Wireless Services, Inc., New York Law Journal, "New Deals"

The "New Deals" column of the February 26th New York Law Journal writes that "[a]fter an intense bidding war, Cingular Wireless LLC has acquired AT&T Wireless Services Inc. in the largest all-cash deal in U.S. history, valued at approximately $41 billion. Cingular will also assume $6 billion in net debt to raise the total value of the deal to $47 billion. The new company, with about 46 million subscribers, will surpass Verizon Wireless to become the largest mobile phone company in the United States. Only weeks ago, Cingular, a joint venture of SBC Communications Inc. and BellSouth Corp., was thought to be the only serious bidder for AT&T Wireless and analysts predicted a closing bid of a little over $30 billion. The Vodaphone (sic) group, which owns a 45 percent stake in Verizon Wireless, emerged as a second serious bidder, and over a matter of days the two companies drove the price of AT&T Wireless up by $11 billion...Fried, Frank, Harris, Shriver & Jacobson [LLP] represented BellSouth on the deal. The Fried Frank team included partners Arthur Fleischer, Jr., Gail L. Weinstein, Jonathan S. Adler, Philip Richter, Donald P. Carleen, Jonathan F. Lewis, Alan S. Kaden, Peter L. Simmons, Alexander R. Sussman..."

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