It's Official: Justice Department Approves Merger

Archived from groups: alt.cellular.cingular (More info?)

Monday October 25, 3:26 pm ET

WASHINGTON (Reuters) - U.S. antitrust authorities on Monday approved
Cingular Wireless' plan to acquire rival AT&T Wireless Services Inc. for
$41 billion in cash, creating the nation's biggest wireless carrier.

The Justice Department said it will not oppose the deal on the condition
that the No. 2 and No. 3 wireless companies sell assets in 13 markets in
11 states.

The assets to be divested are in Connecticut, Georgia, Kansas, Kentucky,
Louisiana, Massachusetts, Missouri, Michigan, Oklahoma, Tennessee and
Texas, the department said.
15 answers Last reply
More about official justice department approves merger
  1. Archived from groups: alt.cellular.cingular (More info?)

    more detailed stories:

    <http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yh
    oo&dist=yhoo&guid=%7B6959D7F3%2DB7D4%2D4FAE%2DB639%2D904B777D6F10%7D>

    <http://www.miami.com/mld/miamiherald/business/10012007.htm?1c>


    Not yet at

    http://www.usdoj.gov/atr/whatsnew.htm
  2. Archived from groups: alt.cellular.cingular (More info?)

    [POSTED TO alt.cellular.cingular - REPLY ON USENET PLEASE]

    In <jzwick3-730C54.14590725102004@news1.west.earthlink.net> on Mon, 25 Oct
    2004 19:59:33 GMT, Jack Zwick <jzwick3@mindspring.com> wrote:

    >Monday October 25, 3:26 pm ET
    >
    >WASHINGTON (Reuters) - U.S. antitrust authorities on Monday approved
    >Cingular Wireless' plan to acquire rival AT&T Wireless Services Inc. for
    >$41 billion in cash, creating the nation's biggest wireless carrier.
    >
    >The Justice Department said it will not oppose the deal on the condition
    >that the No. 2 and No. 3 wireless companies sell assets in 13 markets in
    >11 states.
    >
    >The assets to be divested are in Connecticut, Georgia, Kansas, Kentucky,
    >Louisiana, Massachusetts, Missouri, Michigan, Oklahoma, Tennessee and
    >Texas, the department said.

    The open question is whether the size of such divestitures would trigger
    Cingular's option to walk from the deal (or whether Cingular would decide to
    go ahead with fewer divestitures and take the risk of litigation).
    --
    Best regards, HELP FOR CINGULAR GSM & SONY ERICSSON PHONES:
    John Navas <http://navasgrp.home.att.net/#Cingular>
  3. Archived from groups: alt.cellular.cingular (More info?)

    [POSTED TO alt.cellular.cingular - REPLY ON USENET PLEASE]

    In <jzwick3-C990D7.15043125102004@news1.west.earthlink.net> on Mon, 25 Oct
    2004 20:04:57 GMT, Jack Zwick <jzwick3@mindspring.com> wrote:

    >more detailed stories:
    >
    ><http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yh
    >oo&dist=yhoo&guid=%7B6959D7F3%2DB7D4%2D4FAE%2DB639%2D904B777D6F10%7D>
    >
    ><http://www.miami.com/mld/miamiherald/business/10012007.htm?1c>

    Registration required -- no thanks.

    See instead:
    <http://www.forbes.com/home/feeds/ap/2004/10/25/ap1608542.html>

    --
    Best regards, HELP FOR CINGULAR GSM & SONY ERICSSON PHONES:
    John Navas <http://navasgrp.home.att.net/#Cingular>
  4. Archived from groups: alt.cellular.cingular (More info?)

    In article <s5dfd.1047$_3.18000@typhoon.sonic.net>,
    John Navas <spamfilter0@navasgroup.com> wrote:

    > The open question is whether the size of such divestitures would trigger
    > Cingular's option to walk from the deal (or whether Cingular would decide to
    > go ahead with fewer divestitures and take the risk of litigation).

    Cingular agreed to the divestures. That's why Justice approved the
    takeover.
  5. Archived from groups: alt.cellular.cingular (More info?)

    [POSTED TO alt.cellular.cingular - REPLY ON USENET PLEASE]

    In <jzwick3-56D6D8.08582526102004@news1.west.earthlink.net> on Tue, 26 Oct
    2004 13:58:50 GMT, Jack Zwick <jzwick3@mindspring.com> wrote:

    >In article <s5dfd.1047$_3.18000@typhoon.sonic.net>,
    > John Navas <spamfilter0@navasgroup.com> wrote:
    >
    >> The open question is whether the size of such divestitures would trigger
    >> Cingular's option to walk from the deal (or whether Cingular would decide to
    >> go ahead with fewer divestitures and take the risk of litigation).
    >
    >Cingular agreed to the divestures. That's why Justice approved the
    >takeover.

    The deal is not yet done since neither the FCC nor the Court have yet spoken.
    Thus greater divestiture might still be required.

    <quibble> The approval of the DOJ is conditional on the divestitures, not any
    agreement. </quibble>

    --
    Best regards, HELP FOR CINGULAR GSM & SONY ERICSSON PHONES:
    John Navas <http://navasgrp.home.att.net/#Cingular>
  6. Archived from groups: alt.cellular.cingular (More info?)

    In article <m0ufd.1155$_3.19716@typhoon.sonic.net>,
    John Navas <spamfilter0@navasgroup.com> wrote:

    > [POSTED TO alt.cellular.cingular - REPLY ON USENET PLEASE]
    >
    > In <jzwick3-56D6D8.08582526102004@news1.west.earthlink.net> on Tue, 26 Oct
    > 2004 13:58:50 GMT, Jack Zwick <jzwick3@mindspring.com> wrote:
    >
    > >In article <s5dfd.1047$_3.18000@typhoon.sonic.net>,
    > > John Navas <spamfilter0@navasgroup.com> wrote:
    > >
    > >> The open question is whether the size of such divestitures would trigger
    > >> Cingular's option to walk from the deal (or whether Cingular would decide
    > >> to
    > >> go ahead with fewer divestitures and take the risk of litigation).
    > >
    > >Cingular agreed to the divestures. That's why Justice approved the
    > >takeover.
    >
    > The deal is not yet done since neither the FCC nor the Court have yet spoken.
    > Thus greater divestiture might still be required.
    >
    > <quibble> The approval of the DOJ is conditional on the divestitures, not
    > any
    > agreement. </quibble>

    But Cingular has agreed, and an agreement document has been filed in
    Court, unknown to you apparently.

    The only thing I can imagine that could stop the Buy Out now is if Navas
    filed suit against it, complaining that Cingular agreed to the
    divestiture stipulations without telling him.
  7. Archived from groups: alt.cellular.cingular (More info?)

    [POSTED TO alt.cellvlar.cingvlar - REPLY ON USENET PLEASE]

    In <jzwick3-246882.10542426102004@news1.west.earthlink.net> on Tve, 26 Oct
    2004 15:54:04 GMT, Jack Zwick <jzwick3@mindspring.com> wrote:

    >In article <m0vfd.1155$_3.19716@typhoon.sonic.net>,
    > John Navas <spamfilter0@navasgrovp.com> wrote:

    >> <qvibble> The approval of the DOJ is conditional on the divestitvres, not
    >> any agreement. </qvibble>
    >
    >Bvt Cingvlar has agreed, and an agreement docvment has been filed in
    >Covrt, vnknown to yov apparently.

    The Covrt has not yet approved the deal.

    >The only thing I can imagine that covld stop the Bvy Ovt now is if Navas
    >filed svit against it, complaining that Cingvlar agreed to the
    >divestitvre stipvlations withovt telling him.

    The remaining hvrdles are objections from competitors and from pvblic interest
    grovps (e.g., Consvmers Union and the Consvmer Federation of America).

    --
    Best regards, HELP FOR CINGULAR GSM & SONY ERICSSON PHONES:
    John Navas <http://navasgrp.home.att.net/#Cingvlar>
  8. Archived from groups: alt.cellular.cingular (More info?)

    "John Navas" <spamfilter0@navasgroup.com> wrote in message
    news:m0ufd.1155$_3.19716@typhoon.sonic.net...
    > [POSTED TO alt.cellular.cingular - REPLY ON USENET PLEASE]
    >
    > In <jzwick3-56D6D8.08582526102004@news1.west.earthlink.net> on Tue, 26 Oct
    > 2004 13:58:50 GMT, Jack Zwick <jzwick3@mindspring.com> wrote:
    >
    > >In article <s5dfd.1047$_3.18000@typhoon.sonic.net>,
    > > John Navas <spamfilter0@navasgroup.com> wrote:
    > >
    > >> The open question is whether the size of such divestitures would
    trigger
    > >> Cingular's option to walk from the deal (or whether Cingular would
    decide to
    > >> go ahead with fewer divestitures and take the risk of litigation).
    > >
    > >Cingular agreed to the divestures. That's why Justice approved the
    > >takeover.
    >
    > The deal is not yet done since neither the FCC nor the Court have yet
    spoken.
    > Thus greater divestiture might still be required.

    Then you'll need to explain the Cingular banner that tops the old AWE
    website.

    >
    > <quibble> The approval of the DOJ is conditional on the divestitures, not
    any
    > agreement. </quibble>

    But the approval was given (conditionally or not) based on an agreement to
    divest.

    >
    > --
    > Best regards, HELP FOR CINGULAR GSM & SONY ERICSSON PHONES:
    > John Navas <http://navasgrp.home.att.net/#Cingular>
  9. Archived from groups: alt.cellular.cingular (More info?)

    John Navas wrote:
    > [POSTED TO alt.cellular.cingular - REPLY ON USENET PLEASE]
    >
    > In <jzwick3-730C54.14590725102004@news1.west.earthlink.net> on Mon, 25 Oct
    > 2004 19:59:33 GMT, Jack Zwick <jzwick3@mindspring.com> wrote:
    >
    >
    >>Monday October 25, 3:26 pm ET
    >>
    >>WASHINGTON (Reuters) - U.S. antitrust authorities on Monday approved
    >>Cingular Wireless' plan to acquire rival AT&T Wireless Services Inc. for
    >>$41 billion in cash, creating the nation's biggest wireless carrier.
    >>
    >>The Justice Department said it will not oppose the deal on the condition
    >>that the No. 2 and No. 3 wireless companies sell assets in 13 markets in
    >>11 states.
    >>
    >>The assets to be divested are in Connecticut, Georgia, Kansas, Kentucky,
    >>Louisiana, Massachusetts, Missouri, Michigan, Oklahoma, Tennessee and
    >>Texas, the department said.
    >
    >
    > The open question is whether the size of such divestitures would trigger
    > Cingular's option to walk from the deal (or whether Cingular would decide to
    > go ahead with fewer divestitures and take the risk of litigation).

    Considering the company wide email that went out today, i don't think
    cingular's going to be pulling out of the deal.
  10. Archived from groups: alt.cellular.cingular (More info?)

    cambie wrote:

    > Considering the company wide email that went out today, i don't think
    > cingular's going to be pulling out of the deal.

    Which company? Perhaps you're referring to the Navas Group / Zwick LLC
    merger? I got that same email but the NavasZwicky Clonebots PAC are
    prompting shareholders to forego their weekly sperm bank donations until
    the FCC, DOJ, DEA, FBI, CIA, NSA, and EEU have all approved the merger.

    -Gary
  11. Archived from groups: alt.cellular.cingular (More info?)

    [POSTED TO alt.cellular.cingular - REPLY ON USENET PLEASE]

    In <YNadndGEL7vOmeLcRVn-2Q@adelphia.com> on Tue, 26 Oct 2004 20:14:12 -0600,
    "Scott Stephenson" <scott.stephensonson@adelphia.net> wrote:

    >"John Navas" <spamfilter0@navasgroup.com> wrote in message
    >news:m0ufd.1155$_3.19716@typhoon.sonic.net...

    >> The deal is not yet done since neither the FCC nor the Court have yet spoken.
    >> Thus greater divestiture might still be required.
    >
    >Then you'll need to explain the Cingular banner that tops the old AWE
    >website.

    Cingular is simply taking the risk that the Court will bless the deal.

    <http://www.forbes.com/associatedpress/feeds/ap/2004/10/26/ap1610023.html>

    The Justice Department was joined in the court settlement by the
    states of Texas and Connecticut. A JUDGE STILL MUST SIGN OFF ON THE
    AGREEMENT. [emphasis added]

    >> <quibble> The approval of the DOJ is conditional on the divestitures, not any
    >> agreement. </quibble>
    >
    >But the approval was given (conditionally or not) based on an agreement to
    >divest.

    Was there a point there?

    --
    Best regards, HELP FOR CINGULAR GSM & SONY ERICSSON PHONES:
    John Navas <http://navasgrp.home.att.net/#Cingular>
  12. Archived from groups: alt.cellular.cingular (More info?)

    [POSTED TO alt.cellular.cingular - REPLY ON USENET PLEASE]

    In <DrSdnRrz-KFCY-PcRVn-tA@giganews.com> on Tue, 26 Oct 2004 20:49:58 -0500,
    cambie <none@provided.com> wrote:

    >John Navas wrote:

    >> The open question is whether the size of such divestitures would trigger
    >> Cingular's option to walk from the deal (or whether Cingular would decide to
    >> go ahead with fewer divestitures and take the risk of litigation).
    >
    >Considering the company wide email that went out today, i don't think
    >cingular's going to be pulling out of the deal.

    I agree, now that I've seen the FCC position.

    --
    Best regards, HELP FOR CINGULAR GSM & SONY ERICSSON PHONES:
    John Navas <http://navasgrp.home.att.net/#Cingular>
  13. Archived from groups: alt.cellular.cingular (More info?)

    "John Navas" <spamfilter0@navasgroup.com> wrote in message
    news:T1Ifd.1316$_3.22294@typhoon.sonic.net...
    > [POSTED TO alt.cellular.cingular - REPLY ON USENET PLEASE]
    >
    > In <YNadndGEL7vOmeLcRVn-2Q@adelphia.com> on Tue, 26 Oct 2004
    20:14:12 -0600,
    > "Scott Stephenson" <scott.stephensonson@adelphia.net> wrote:
    >
    > >"John Navas" <spamfilter0@navasgroup.com> wrote in message
    > >news:m0ufd.1155$_3.19716@typhoon.sonic.net...
    >
    > >> The deal is not yet done since neither the FCC nor the Court have yet
    spoken.
    > >> Thus greater divestiture might still be required.
    > >
    > >Then you'll need to explain the Cingular banner that tops the old AWE
    > >website.
    >
    > Cingular is simply taking the risk that the Court will bless the deal.

    According to who? You? Your 'expertise' here is highly suspect, John.
    Having dealt with cellular acquisitions, divestitures and the beginnings of
    a new merger, I'll forgive your naive approach to this. You keep whining
    about the courts when you know damn well there is nothing left for the
    partis involved to do here. The merger is complete.

    >
    > <http://www.forbes.com/associatedpress/feeds/ap/2004/10/26/ap1610023.html>
    >
    > The Justice Department was joined in the court settlement by the
    > states of Texas and Connecticut. A JUDGE STILL MUST SIGN OFF ON THE
    > AGREEMENT. [emphasis added]
    >
    > >> <quibble> The approval of the DOJ is conditional on the divestitures,
    not any
    > >> agreement. </quibble>
    > >
    > >But the approval was given (conditionally or not) based on an agreement
    to
    > >divest.
    >
    > Was there a point there?
    >

    Much more of a point than you made- you are selectively choosing your sound
    bytes in this- makes you seem a little bitter and very uninformed
  14. Archived from groups: alt.cellular.cingular (More info?)

    [POSTED TO alt.cellular.cingular - REPLY ON USENET PLEASE]

    In <XvednX1kjvFn_R3cRVn-1Q@adelphia.com> on Wed, 27 Oct 2004 21:01:56 -0600,
    "Scott Stephenson" <scott.stephensonson@adelphia.net> wrote:

    >"John Navas" <spamfilter0@navasgroup.com> wrote in message
    >news:T1Ifd.1316$_3.22294@typhoon.sonic.net...

    >> Cingular is simply taking the risk that the Court will bless the deal.
    >
    >According to who?

    The law.

    >You? Your 'expertise' here is highly suspect, John.
    >Having dealt with cellular acquisitions, divestitures and the beginnings of
    >a new merger, I'll forgive your naive approach to this.

    I'd be willing to bet that I've done more M&A work than you have. :)

    >You keep whining
    >about the courts when you know damn well there is nothing left for the
    >partis involved to do here. The merger is complete.

    The transaction has closed, but is still subject to Court approval, which, as
    a matter of law, won't occur before the end of the 60 day comment period.
    While the Court is unlikely to intervene, it is nonetheless possible. Thus
    there is risk, but only a small risk, that Cingular has elected to accept.

    >> <http://www.forbes.com/associatedpress/feeds/ap/2004/10/26/ap1610023.html>
    >>
    >> The Justice Department was joined in the court settlement by the
    >> states of Texas and Connecticut. A JUDGE STILL MUST SIGN OFF ON THE
    >> AGREEMENT. [emphasis added]

    And that's a fact.

    --
    Best regards, HELP FOR CINGULAR GSM & SONY ERICSSON PHONES:
    John Navas <http://navasgrp.home.att.net/#Cingular>
  15. Archived from groups: alt.cellular.cingular (More info?)

    Gary wrote:
    > cambie wrote:
    >
    >> Considering the company wide email that went out today, i don't think
    >> cingular's going to be pulling out of the deal.
    >
    >
    > Which company? Perhaps you're referring to the Navas Group / Zwick LLC
    > merger? I got that same email but the NavasZwicky Clonebots PAC are
    > prompting shareholders to forego their weekly sperm bank donations until
    > the FCC, DOJ, DEA, FBI, CIA, NSA, and EEU have all approved the merger.
    >
    > -Gary

    SBC
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