Alltel closes purchase of Western Wireless

LITTLE ROCK, Ark. — Alltel announced it has completed its $6.5 billion merger with Western Wireless Corporation, further expanding its wireless telephone business to serve 10 million domestic customers in 34 states.

Alltel is the primary telephone service provider in Lincoln and southeast Nebraska, among other states it serves.

The merger increases wireless revenue to 70 percent of Alltel's total revenue, and expands the company's wireless operations into nine new states. It will cover more than 50 percent of the lower 48 United States.

In aggregate, Alltel will issue approximately 54.3 million shares of common stock and pay $933.4 million in cash for Western Wireless. Alltel also will assume estimated net debt of $2.1 billion.

Tyson Foods earnings fall below expectations

SPRINGDALE, Ark. — Tyson Foods Inc., the world's largest meat processing company, reported third-quarter earnings down 18.6 percent from a year ago, and below market expectations. Results were depressed by charges for a legal settlement and a poultry plant closing and slow pork sales, the company said.

Tyson properties in Nebraska include offices, plants, warehouses, tanneries and other operations in Columbus, Dakota City, Lexington, Madison, Norfolk, Omaha, West Point and York.

The meat producer reported earnings of $131 million, or 36 cents per share, for the three months ended June 30 compared with $161 million, or 45 cents per share, in the prior-year period.

Revenue rose to $6.7 billion from $6.6 billion a year ago on strong chicken and beef sales.

Analysts surveyed by Thomson Financial were looking for earnings of 37 cents a share for the quarter and $1.10 a share for the year.

ADM earnings exceed market estimates

DECATUR, Ill. — Agricultural processing giant Archer Daniels Midland Co. reported increased annual profits in almost all its operating segments Friday as it posted final-quarter earnings that exceeded Wall Street's expectations.

ADM has a soybean processing plant in Lincoln.

The company reported net income of $195.5 million, or 30 cents a share, for its fiscal fourth quarter. That compares to a loss of $103.1 million, or 16 cents per share, a year earlier when an after-tax charge of $252 million for a fructose litigation settlement reduced earnings.

ADM's quarterly sales declined 3 percent to $9.42 billion from $9.69 billion last year.

Tokyo land prices rise for first time in 13 years

TOKYO — For the first time in at least 13 years, average land prices in Tokyo rose this year, Japan's tax agency said Monday, signaling a turnaround in a property value slide that began in the early 1990s with the collapse of the nation's speculative bubble.

Land along selected streets in the sprawling capital edged up 0.4 percent from 2004 to $4,107, per square yard as of Jan. 1, 2005, the National Tax Agency said. The survey monitors land prices only, not real estate, which includes buildings.

— From news wires