Alltel Issues $9 Billion Hostile Takeover Bid for CenturyTel

Rural telephone services company Alltel Corp. issued a $9 billion hostile takeover offer late Tuesday for its largest competitor, CenturyTel Inc. The proposed merger would create a telecom provider focused on rural markets with combined revenues of $10 billion. CenturyTel rejected two previous proposals from Alltel after receiving advice from its financial adviser, J.P. Morgan, and legal adviser, Wachtell, Lipton, Rosen & Katz.

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Alltel Issues $9 Billion Hostile Takeover Bid for CenturyTel

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