Hit #31
I have already written enough about it, so this will be short. AT&T (T) is being acquired by SBC for $16 billion, in a stock and cash (in the form of a tax-free one-time dividend) deal. At around $19.7/share this is a 20% premium over my average cost of $16.4/share.
This one probably is a hit for practically anyone who ever bought shares given that AT&T is so widely-held. But the real question is whether the transaction is profitable i.e did you buy it at a reasonable price ?
I will be holding onto my SBC shares that I get as part of this deal. The current valuation and yield are very attractive.
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