At&T Takeover

Could there be an AT&T takeover?

It's come to this: AT&T, once the mightiest company on earth, the firm that reached out and touched almost every American household, is not only giving up on attracting new residential customers—but it's almost certain to be targeted by a group of takeover artists. I've learned that several former high-ranking AT&T executives who left the firm after disagreements with the current management are working with Kohlberg, Kravis, Roberts & Co., a New York leveraged-buyout house. It's not clear what their KKR gig consists of—KKR declined to comment—but it's hard to imagine that the topic of AT&T never arises. And, my sources say, within the past year KKR and at least one other private-equity firm have approached AT&T about buying the company. AT&T declined to comment on any aspect of this article.

Twenty years ago, who would have thought this would ever happen?

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