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SBC and AT&T Boards Vote to Go Ahead

Posted by ryuzaki0 on from the death-star-to-tighten-its-grip dept.

telstar writes "As a follow-up to earlier coverage regarding the possible acquisition of AT&T by SBC, MSNBC is reporting that boards from both companies met to vote today and that the acquisition will go forward at a price of 16 billion dollars. Both companies are currently keeping the deal quiet."

1 of 203 comments (clear)

  1. Uh... dude by Anonymous Coward · · Score: 4, Informative
    Welcome to 1996
    In February 1996, the soon-to-be-spun-off systems and technology unit of AT&T [includes Bell Labs] renamed itself Lucent Technologies and launched its separation with an initial public offering of stock issued in April 1996. The spin-off was completed in September 1996 when AT&T distributed its shares of Lucent to AT&T shareholders.