Alltel, which offers a variety of wireless services across the Southeast, is acquiring Western Cellular in a cash-and-stock swap valued at more than $6 billion, The Financial Times reported Monday morning.

Media reports about talks between the companies made headlines last week.

The deal is expected to be announced formally today, according to the FT.

Western Wireless offers service across 19 western states. The combined company would have some 10 million subscribers and $10 billion in annual revenues.