USA Today reports that Cingular Wireless has made a formal offer to acquire AT&T Wireless in an all-cash deal that would create the USA’s No. 1 cell phone carrier, according to executives with knowledge of the offer at two companies involved in the deal.
The offer was submitted to AT&T Wireless’ board of directors over the weekend, the executives say. A previously scheduled board meeting began Monday and is expected to continue Tuesday.
Read the whole story at USA Today.