Cerberus Shells Out $950M For AT&T's Yellow Pages
The communications giant said an affiliate of Cerberus agreed to acquire a 53 percent stake in AT&T Advertising Solutions and AT&T Interactive, which oversee the firm's yellow pages operations.
The transaction is expected to close over the summer. Upon closing, Cerberus will pay AT&T $750 million in cash and a $200 million note, Dallas-based AT&T said.
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