Alltel stock ceases trading following acquisition by TPG Capital, GS Capital Partners

By Lisa Kerner

Charlotte, N.C., Nov. 16 - Alltel Corp. closed its merger with an affiliate of TPG Capital and GS Capital Partners. As a result, the company's stock ceased trading on the New York Stock Exchange at the market's close on Friday.

Alltel shareholders will receive $71.50 per share in cash in a deal they approved in August.

"This transaction delivers substantial value to our shareholders, and we want to thank them again for their support through the years," Alltel president and chief executive officer Scott Ford said in a company news release.

Alltel provides wireless voice and data communications services to individual and business customers in the United States. The company is based in Little Rock, Ark.

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