SBC to buy AT&T for $16 Billion
by mig 10:13PM Sunday Jan 30 2005
The boards of directors of SBC Communications Inc. (Research) and AT&T Corp. (Research) were to meet Sunday to vote on a more than $15 billion stock deal in which SBC will buy AT&T, according to sources familiar with the situation.
The telecommunications companies, which have been in talks for days, have come to a tentative agreement, a source familiar with the situation said. The combination would bolster SBC's business with large corporations and spell the end for AT&T, the once ubiquitous "Ma Bell."