(Lawfuel) New York – June 5, 2008 – Debevoise & Plimpton LLP is advising Verizon Wireless in connection with its agreement to acquire Alltel Corporation in a cash merger. Under the terms of the merger agreement, Verizon Wireless will acquire the equity of Alltel for approximately $5.9 billion. Based on Alltel’s projected net debt at closing of $22.2 billion, the aggregate value of the transaction is $28.1 billion. Verizon Wireless is a joint venture of Verizon Communications and Vodafone.
The parties are targeting completion of the merger by the end of the year, subject to obtaining regulatory approvals.
Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.
The Debevoise team is led by partner Jeffrey J. Rosen and includes partners David A. Brittenham, Lawrence K. Cagney, Peter A. Furci and William D. Regner, and associates Claire Y. Choi, Michael A. Diz, David K. Lutz, Julianna N. Mather, William C. Mulvey, Christine M. O’Reilly, Eva E. Subotnik, Ashkan Tehrani and David W. Wicklund.