Alltel Corp. of Little Rock has entered a merger agreement with Texas Pacific Group of San Francisco and Goldman Sachs Capital Partners of New York for about $27.5 billion. The Little Rock company said the groups will acquire all outstanding common stock of Alltel for $71.50 per share in cash,. In a news release, Alltel said the current management would remain in place, including CEO Scott Ford. Alltel's Board of Directors unanimously signed off on the merger agreement. Alltel is the owner and operator of the nation's largest wireless network, with 12-million wireless customers.
