1. AT&T/T-Mobile Merger
Date: March 21, 2011
Ma Bell surprised everyone last March when it announced its plans to acquire T-Mobile for $39 billion. The mega purchase, however, didn't sit well with a number of different parties including competitors like Sprint, and government agencies like the Federal Communications Commission and the Department of Justice which worried the merger would “substantially lessen competition." The FCC soon intervened in worry of AT&T violating antitrust laws, causing the carrier to back out and try rework the deal. A little over eight months after first announcing the deal, AT&T killed its bid. The bigger fail? AT&T having to fork over a break-up fee of $3 billion in cash and $1 billion in wireless spectrum to T-Mobile.