AT & T Corp. closed its $44 billion acquisition of MediaOne on Thursday,6/18/2000 08:00:00 PM Eastern
AT & T Corp. closed its $44 billion acquisition of MediaOne on Thursday, becoming the largest cable company in the country with more than 16 million, or 40% of, U.S. cable households. The deal was done for $23 billion in cash and 606 million shares worth about $20.3 billion, based on AT & T's Wednesday's share price of about $33.50. AT & T cleared its final hurdle in recent weeks by promising federal regulators, concerned about a monopoly, that it would shed some cable assets. MediaOne will be folded into AT & T's Denver-based cable unit.