Alltel Announces Aug. 29 as Date for Special Shareholder Meeting
July 23 2007 - 5:02PM
Business Wire
Alltel Corp. (NYSE: AT) today announced that a special meeting of
shareholders to vote on the proposed purchase of Alltel by TPG
Capital and GS Capital Partners (�GSCP�) has been set for Aug. 29.
The meeting will be held at noon CDT at Alltel Arena in North
Little Rock, Arkansas. Shareholders of record as of the close of
business on the record date of July 23, 2007, will be entitled to
vote at the meeting. On June 13, Alltel filed a preliminary proxy
statement in connection with the proposed purchase with the
Securities and Exchange Commission. Alltel expects the final proxy
to be filed shortly. The final proxy statement will be mailed
together with a proxy card and notice of the special meeting to
Alltel shareholders of record as of the July 23 record date. On May
20, Alltel announced that it had agreed to be acquired by TPG
Capital and GSCP for $71.50 cash for each share of Alltel common
stock. The transaction is subject to certain conditions, including
approval by Alltel�s shareholders. Also today, Alltel announced
that it will hold a conference call at 7:30 a.m. CDT on Aug. 1 to
release the company�s second-quarter earnings results. Interested
parties can access the conference call by dialing 877-493-2983 five
minutes prior to the start time. A replay of the call will be
available beginning at 10:30 a.m. CDT on Aug. 1 and ending at
midnight CDT on Aug. 8. The replay can be accessed by calling
800-642-1687, pass code 10888674. The conference call will be
streamed live over the company's Web site at
www.alltel.com/investors. Financial, statistical and other
information related to the call also will be posted on the investor
relations section of the company's Web site. A replay of the Web
cast will be available on the Web site beginning at 10:30 a.m. CDT
on Aug. 1. About Alltel Alltel is owner and operator of the
nation�s largest wireless network and has 12 million wireless
customers. Forward-Looking Statements Alltel claims the protection
of the safe-harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to uncertainties that could cause actual
future events and results to differ materially from those expressed
in the forward-looking statements. These forward-looking statements
are based on estimates, projections, beliefs, and assumptions and
are not guarantees of future events and results. Actual future
events and results may differ materially from those expressed in
these forward-looking statements as a result of a number of
important factors. Representative examples of these factors include
(without limitation): the occurrence of any event, change or other
circumstances that could give rise to the termination of the merger
agreement with TPG and GS Capital; the inability to complete the
merger due to the failure to obtain stockholder approval for the
merger or the failure to satisfy other conditions to completion of
the merger, including the receipt of all regulatory approvals
related to the merger; risks that the proposed transaction disrupts
current plans and operations; adverse changes in economic
conditions in the markets served by Alltel; the extent, timing, and
overall effects of competition in the communications business;
material changes in the communications industry generally that
could adversely affect vendor relationships with equipment and
network suppliers and customer relationships with wholesale
customers; changes in communications technology; the risks
associated with the integration of acquired businesses; adverse
changes in the terms and conditions of the wireless roaming
agreements of Alltel; the potential for adverse changes in the
ratings given to Alltel's debt securities by nationally accredited
ratings organizations; the uncertainties related to Alltel's
strategic investments; the effects of litigation; and the effects
of federal and state legislation, rules, and regulations governing
the communications industry. In addition to these factors, actual
future performance, outcomes, and results may differ materially
because of more general factors including (without limitation)
general industry and market conditions and growth rates, economic
conditions, and governmental and public policy changes. IMPORTANT
ADDITIONAL INFORMATION AND WHERE TO FIND IT: In connection with the
proposed merger, Alltel has filed a preliminary proxy statement
with the Securities and Exchange Commission (the "SEC"). This
document is not yet final and will be amended. INVESTORS AND
SECURITY HOLDERS ARE ADVISED TO READ THE FINAL PROXY STATEMENT WHEN
IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION
ABOUT THE MERGER AND THE PARTIES TO THE MERGER. Investors and
security holders also may obtain a free copy of the proxy statement
(when available) and other relevant documents filed with the SEC
from the SEC's website at http://www.sec.gov or by directing a
request by mail or telephone to Director-Investor Relations, Alltel
Corporation, One Allied Drive, Little Rock, AR 72202, telephone
1-877-446-3628 or from Alltel's website, www.alltel.com. Alltel and
its directors and certain of its officers may be deemed to be
participants in the solicitation of proxies from Alltel's
shareholders with respect to the merger. Information about Alltel's
directors and executive officers and their ownership of Alltel's
common stock is set forth in the proxy statement for Alltel's 2007
Annual Meeting of Shareholders, which was filed with the SEC on
April 16, 2007, and in the preliminary proxy statement for the
special meeting filed with the SEC on June 13, 2007. Shareholders
and investors may obtain additional information regarding the
interests of Alltel and its directors and executive officers in the
merger, which may be different than those of Alltel's shareholders
generally, by reading the final proxy statement and other relevant
documents regarding the merger, which will be filed with the SEC.
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