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Sprint Receives Regulatory Go-Ahead for iPCS Acquisition

Nov 25, 2009, 9:25 AM by Eric M. Zeman

The Federal Communications Commission has given its approval to Sprint's intended acquisition of affiliate iPCS. Sprint announced its intent to acquire iPCS several weeks ago for the price of $24 per share. iPCS's board of directors has recommended that all shareholders approve the tender offer, which expires tonight. Greywolf Capital Management, which owns about 8% of iPCS shares, thinks the $24-per-share price offered by Sprint to buy iPCS is too low and said it won't approve the sale.

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