GREENSBORO, N.C.-Vanguard Cellular Systems Inc. announced its shareholders approved the merger of Vanguard into a wholly owned subsidiary of AT&T Corp.
Each Vanguard share will be exchanged at each shareholder’s option, for either $23 cash or .59805 of an AT&T share, subject to the limitation that the overall consideration will consist of 50-percent cash and 50-percent AT&T stock.
