The lawsuit seeking to block AT&T Inc.'s takeover of T-Mobile USA Inc. shows a more aggressive antitrust stance by the U.S. Justice Department that limits prospects for other big telecommunications deals, antitrust analysts said.
The suit, filed yesterday in Washington federal court, seeks to derail the $39 billion T-Mobile deal, the biggest acquisition announced this year, according to data compiled by Bloomberg. The last transaction the Justice Department challenged whose size even approached the AT&T bid was the 2003 $8.4 billion Oracle Corp.-PeopleSoft Inc. merger.
The T-Mobile deal is the biggest challenged by the Justice Department since it sued in June 2000 to block WorldCom Inc.'s proposed acquisition of Sprint Corp., a deal valued at $152 billion when the companies called off the merger the following month.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
