Cingular Wins AT&T Wireless As Bidding War Tops $41 Billion

from the that-didn't-take-long dept

As most people expected, Cingular (who was much hungrier and much better positioned to do the deal) has made the final bid that made AT&T Wireless’ board smile – topping $41 billion in an all cash deal. Even though everyone knew that Cingular and Vodafone were upping each other’s bids all weekend, most people seemed to think the bidding would stop around $38 or $39 billion – with a slight chance of hitting $40. In fact, Vodafone dropped out at $38 billion – showing just how much Cingular wanted (and overbid) for AT&T Wireless. Now comes the tricky part: integration and fallout. Don’t expect the deal making to be done just yet.

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