AT&T and Centennial Communications Announce Justice Department Clearance for Acquisition of Centennial by AT&T
AT&T and Centennial Communications Corp. announced today that the Department of Justice has cleared AT&T’s proposed acquisition of Centennial. The Department has entered into a consent decree with AT&T and Centennial that allows the acquisition to proceed, while requiring that AT&T divest Centennial’s operations in eight service areas in Louisiana and Mississippi. The eight service areas are Alexandria, La., Lafayette, La., LA-3 (DeSoto), LA-5 (Beauregard), LA-6 (Iberville), LA-7 (West Feliciana), MS-8 (Claiborne) and MS-9 (Copiah).
In May 2009, AT&T announced a definitive agreement to sell to Verizon Wireless five of the Centennial service areas covered under the DOJ ruling. The five service areas are Lafayette, La., LA-5 (Beauregard), LA-6 (Iberville), LA-7 (West Feliciana) and MS-8 (Claiborne).
On November 7, 2008, AT&T and Centennial entered into an agreement under which AT&T would acquire Centennial. Under the terms of the merger agreement, Centennial stockholders would receive $8.50 per share in cash. The acquisition was approved by Centennial’s stockholders in February 2009 but remains subject to approval by the Federal Communications Commission and to other customary closing conditions. AT&T and Centennial expect that, assuming timely satisfaction or waiver of all remaining closing conditions, the merger will be completed early in the fourth quarter of calendar year 2009.
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About the Author: Faysal Chowdhury, a Civil Engineer at day and an intelligent tech blogger at night. Stationed in Dhaka, Bangladesh he is has been with HotCellularPhone.com since the beginning, dated back to 2008. After receiving his Bachelor’s Degree in 2006, he started working as a Civil Engineer for Bangladesh Water Development Board (BWDB) but his tech savvy mind always kept up with the mobile world and keeping everyone updated as well.
