Private Equity Dials Up Alltel

Shares of the wireless telecom company climbed Monday after it agreed to a buyout offer from TPG Capital and a unit of Goldman Sachs

Alltel Corp. (AT) shares shot up to a new 52-week high May 21 after the wireless telecommunications operator agreed to be acquired by TPG Capital (formerly Texas Pacific Group) and GS Capital Partners (a subsidiary of Goldman Sachs [GS]) for $27.5 billion.

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