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AT&T-Mobile deal is big, but how big?

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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March 21, 2011, 7:44 PM ET
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Thomson Reuters has sent over some data on where AT&T’s (T) planned $39 billion purchase of T-Mobile ranks in the annals of mergers and acquisitions:

* It is the year’s second-largest M&A transaction, behind only AIG’s $59 billion restructuring. And, since that AIG deal doesn’t really deserve to qualify as M&A, I say that AT&T-Mobile stands atop the 2011 leader-board (at least for now).

* It is the largest telecom M&A transaction since 2006, when AT&T bought BellSouth for $89.4 billion. That said, global telecom M&A is off last year’s pace by around 4% (in terms of dollars) — which makes it the only declining M&A sector in 2010.

* Overall, it is the 12th-largest telecom M&A of all time. It comes in just above Pacific Century CyberWorks buying Cable & Wireless HK in 2000 for $35.55 billion, and just below France Telecom buying Orange in 2000 for $39.67 billion. The all-time leader is Vodafone buying Mannesmann in 1999 for $202 billion.

* Its $3 billion reverse breakup fee is the third-largest in history, behind only AOL/Time Warner ($5.4 billion) and Pfizer/Wyeth ($4.5 billion).

* Its $20 billion bridge loan from JPMorgan is the second-largest bridge loan since 2000.



Source: Thomson Reuters
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By Dan Primack
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