MCI Worldcom Inc., has reached an agreement to buy Sprint Corp. for a record $115 billion in stock. This is the world’s largest takeover in history. The company is to be called Worldcom and will have 30% of the consumer long-distance market, which is roughly 30 million customers worldwide. The pact was finalized on October 5, after MCI, based in Mississippi, outbid BellSouth Corporation. BellSouth provided a modest offer for Sprint, but their offer was topped by MCI, who has a more promising future because or its sheer size. This deal will bring together the nation’s second and third largest long-distance carriers, with estimated revenue of $50 billion. This combination boosts its stock-market value to around $200 billion. Before this merger, MCI and BellSouth had competed to acquire Sprint. BellSouth placed a bid to buy Sprint at $72 a share, and $7.25 a share for Sprint’s PCS program. MCI then placed a bid in for over $80 a share. In response to that, BellSouth increased the price of the PCS shares to $11 and asked Sprint to follow their standstill agreement that would prevent Sprint from negotiating with other possible bidders. MCI eventually won, and now has the largest long-distance carrier throughout the world. After this bidding war, BellSouth chairman Duane Ackerson stated, "We don’t go out and do crazy things" and "We still have an opportunity to grow value for the shareholders." Many analysts feel that BellSouth needs a merger, or major improvement, or else they will lose most of their $80 billion revenue and 35 million customers to Worldcom, as the new company is going to be called. Many feel that Worldcom has many promising assets and should evolve into a successful long-distance provider.