AT and T Wireless-Telecorp PCS Merger

Paper Summary:

Examines the acquisition of TeleCorp by AT&T. Defines acquisitions and mergers. Motives involved including reduction of tax liability, net worth increase, meshing of distribution systems, complementing customer bases. Firms' expectations of greater value and competitive power. Approval of acquisitions by antitrust regulators. Issue of goodwill and intangible assets.

From the Paper:

"AT&T WIRELESS - TELECORP PCS MERGER

This paper examines the acquisition of TeleCorp PCS by AT&T Wireless announced in October 2001 ( AT&T Wireless, to Acquire TeleCorp PCS, 2001). Acquisition is a generic term covering all forms of acquiring another firm, such as consolidation, holding company, merger, or purchase of assets with cash or stock. A merger is the combination of two or more firms. In most instances of merger, one corporation acquires the stock of another. The acquiring corporation then either retires the stock of the other corporation and dissolves the acquired corporation, or permits the acquired firm to continue operating in its own name as a wholly-owned subsidiary. Sensible motives for acquisitions and mergers are found when the positions of each company involved will be improved by the action. There are a number of ..."

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