Divestiture


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Divestiture

The breakup of AT&T (American Telephone & Telegraph Corporation), the largest company in the U.S. prior to 1984. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). Bell Labs was renamed AT&T Bell Labs, and its Western Electric manufacturing division became AT&T Technologies.

The switching centers hierarchy made Divestiture possible, because there were clear borders between long distance and local service. Except for those that handled large metropolitan regions, all non-customer facing Class 4 offices remained with AT&T, while all customer-facing Class 5 offices went to the RBOCs. See MCI Decision, Telcordia and Trivestiture.
References in periodicals archive ?
Before putting pen to paper, parties should discuss with Bureau staff what assets, rights, and personnel should be included in the divestiture package.
Comment: To address concerns expressed by the FTC, BMY is planning the divestiture of Otzela (apremilast).
Tronox Holdings plc (NYSE: TROX), a vertically integrated producer of titanium dioxide pigment, has completed the divestiture of its 8120 paper-laminate product grade to Venator Materials PLC (NYSE: VNTR).
"Because this proceeding involves multiple transactions in multiple markets, and requires coordinated timing to effectuate divestures of certain stations that are necessary for approval of the overall transaction, we find that consolidated processing of the Divestiture Applications, and their incorporation into this docket, will result in administrative efficiency and ensure a comprehensive record in this proceeding," the Bureau said in a public notice issued late Friday.
This is the latest in a string of divestitures from the Hoboken-based company.
Energizer intends to begin the formal divestiture process immediately following the closing of the acquisition.
Further, the divestiture of Jostens to Platinum Equity was finalised.
Cooper Standard (NYSE: CPS), a global supplier of systems and components for the automotive industry, has signed a contract regarding the divestiture of its anti-vibration systems business to Continental AG.
The court must first assess whether Steves has standing to seek divestiture. The court, as finder of the fact in the remedies phase of the case, finds that Steves has proved that, absent equitable relief, it will be forced out of business when the supply agreement terminates in 2021.
These estimates take into account the divestiture of operations in Jyvaskyla, Finland in late 2017, as well as the costs related to the voluntary public tender offer by Kildare Nordic Acquisitions S.a r.l.
Aetna said the divestiture is subject to completion of the acquisition, which would unite the nation's third-biggest health insurer with a leading retail pharmacy chain and pharmacy benefits manager.