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EMBARQ’s Acquisition by CenturyTel

October 27, 2008

On October 27, 2008, CenturyTel, Inc. and EMBARQ Corporation announced that their Boards of Directors have approved a definitive agreement under which CenturyTel will acquire EMBARQ in a tax-free, stock-for-stock transaction to create one of the leading communications companies in the United States. The transaction reflects an enterprise value of approximately $11.6 billion, including the assumption of $5.8 billion of EMBARQ’s debt. Upon closing of the transaction, EMBARQ shareholders are expected to own approximately 66% and CenturyTel shareholders are expected to own approximately 34% of the combined company. The two companies have a combined operating presence in 33 states, with approximately eight million access lines and two million broadband customers.

The lawyers involved in this matter are partners Robert I. Townsend III and George F. Schoen and associates Andrew B. Gaies, Kylie M. Lane and Aaron Gruber on corporate matters; partner Lauren Angelilli and associates Edward S. Wei and Sonia Rodriguez Garcia on tax matters; partner Eric W. Hilfers and associate Jarrett R. Hoffman on executive compensation and benefits matters; and partners B. Robbins Kiessling, James D. Cooper and Tatiana Lapushchik on financing matters.

Related Practices & Industries

  • Corporate
  • Mergers and Acquisitions
  • Tax
  • Executive Compensation and Benefits
  • Telecommunications

People

Photo
Name
Robert I. Townsend III
Title
Corporate
Title
Partner
Email
rtownsend@cravath.com
Phone
+1-212-474-1964
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    Education

    • J.D., 1990, Harvard Law School
      magna cum laude
    • A.B., 1987, Harvard College
      magna cum laude

    Admitted In

    • New York
    Photo
    Name
    George F. Schoen
    Title
    Corporate
    Title
    Partner
    Email
    gschoen@cravath.com
    Phone
    +1-212-474-1740
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      Education

      • J.D., 1998, University of Chicago Law School
        with Honors
      • B.A., 1994, Cornell University

      Admitted In

      • New York
      Name
      Lauren Angelilli
      Title
      Tax
      Title
      Partner
      Email
      langelilli@cravath.com
      Phone
      +1-212-474-1016
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        Education

        • J.D., 2000, Harvard Law School
          cum laude
        • B.S., 1996, The Wharton School of the University of Pennsylvania
          magna cum laude

        Admitted In

        • New York
        Photo
        Name
        Eric W. Hilfers
        Title
        Executive Compensation and Benefits
        Title
        Partner
        Email
        ehilfers@cravath.com
        Phone
        +1-212-474-1352
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          Education

          • J.D., 1998, University of Chicago Law School
            with Honors
          • A.B., 1995, Princeton University

          Admitted In

          • New York
          Photo
          Name
          Tatiana Lapushchik
          Title
          Corporate
          Title
          Partner
          Email
          tlapushchik@cravath.com
          Phone
          +1-212-474-1442
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            Education

            • J.D., 2000, Harvard Law School
              cum laude
            • B.A., 1997, Barnard College
              summa cum laude

            Admitted In

            • New York
            Photo
            Name
            Aaron M. Gruber
            Title
            Corporate
            Title
            Partner
            Email
            agruber@cravath.com
            Phone
            +1-212-474-1456
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              Education

              • J.D., 2007, Stanford Law School
                Order of the Coif
              • M.Phil., 2004, University of Cambridge
                Gates Cambridge Scholar
              • B.S., 2003, Yale College
                summa cum laude

              Admitted In

              • New York
              Photo
              Name
              B. Robbins Kiessling
              Title
              Corporate
              Title
              Retired Partner
              Email
              bkiessling@cravath.com
              Phone
              +1-212-474-1500
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                Education

                • J.D., 1976, New York University School of Law
                  Order of the Coif, cum laude
                • B.A., 1973, Yale College
                  cum laude
                Photo
                Name
                James D. Cooper
                Title
                Corporate
                Title
                Retired Partner
                Email
                jcooper@cravath.com
                Phone
                +1-212-474-9999
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                  Education

                  • J.D., 1979, Yale Law School
                  • A.B., 1976, University of Chicago
                    Phi Beta Kappa, summa cum laude

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