LITTLE ROCK, Arkansas, United States—Telecommunications carrier Alltel made an unsolicited bid to buy rural operator CenturyTel for $9 billion, a 40 percent premium over CenturyTel’s current stock price.
The proposed merger calls for CenturyTel shareholders to receive a choice of either $43 per share in cash to 0.69 Alltel shares for every CenturyTel share owned. The combined company would have 7.2 million wireless customers and cover 58 million potential customers.
CenturyTel said the latest offer from
Alltel makes bid for CenturyTel
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