Sprint Finalizes Tender Offer for iPCS Shares

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posted Nov 27, 2009, 9:39 AM   by Eric M. Zeman

Sprint today announced that it has completed the first step necessary to acquire affiliate iPCS. A large percentage of iPCS stockholders accepted the tender offer of $24 per share, representing about 62.8% of iPCS' total shares. Two more steps are necessary to make the acquisition complete. Sprint expects to close a "top-up" round on Friday, December 4, whereby it will own 90% of all iPCS shares. Once that is complete, Sprint will then complete a short-term merger with iPCS and acquire the remaining shares at the same price of $24 each.

more info at Sprint Nextel »

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