AT&T, Centennial merger cleared by DOJ, should close in fourth quarter

By Lisa Kerner

Charlotte, N.C., Oct. 13 - The U.S. Department of Justice cleared AT&T, Inc.'s proposed acquisition of Centennial Communications Corp., it was announced on Tuesday.

However, AT&T is required to divest Centennial's operations in eight service areas in Louisiana and Mississippi. AT&T said it agreed in May to sell five of the Centennial service areas to Verizon Wireless.

"We are pleased with the Department of Justice's decision and see it as an important step toward closing our acquisition of Centennial," Wayne Watts, AT&T senior executive vice president and general counsel, said in a company news release.

Centennial shareholders approved the $8.50-a-share cash offer in February 2009.

The transaction is expected to close in the fourth quarter of 2009.

AT&T is a Dallas-based communications holding company.

Centennial is a Wall, N.J., provider of regional wireless and integrated communications services in the United States and Puerto Rico.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.