March 22: Comcast Corp. and MediaOne Group Inc.announce a $60 billion merger agreement.
March 25: MediaOne's largest shareholder,Amos Hostetter, writes a letter to MediaOne management expressing his displeasure with theComcast deal, particularly the fact that MediaOne shareholders will have no ownershiprights in the combined company. He asks management for the right to seek competing offers.
April 1: Hostetter begins talks with AT&TCorp. about making a competing bid for MediaOne.
April 22: AT&T announces its competing offerfor MediaOne -- a cash, stock and debt deal valued at $62 billion. The offer includesvoting rights for MediaOne shareholders, as well as $30.85 per share in cash.
April 26: AT&T and MediaOne announce thatthey have entered into a confidentiality agreement, allowing the two companies to enterinto formal negotiations.
April 28: AT&T announces that it has securedcommitments for $42 billion in a syndicated loan facility, part of which will be used tofinance its MediaOne bid.
April 29: MediaOne announces that Microsoft Corp.and America Online Inc. have also entered into confidentiality agreements with MediaOne.