Nextel Partners Forces Sprint To Buy
Oct 24, 2005, 4:39 PM by (staff)
In a vote today, shareholders of Nextel Partners voted overwhelming in favor of forcing Sprint Nextel to purchase the affiliate. Nextel Partners' contract with Nextel gave the affiliate the option to either spin off from Nextel or be purchased by the carrier in the event Nextel was ever bought out. The two companies must now agree on a purchase price for Nextel Partners - a point of contention since the sale to Sprint was announced. Sprint has been filing cases against Nextel Partners for the past few weeks in order to get information from the company necessary to place a value on the affiliate.
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Going to be a Problem Free Merger!!!!!!
And this was supposed to be a merger without any problems or complications. 🙄
Let's see: Two rather large communications companies + affiliates and partners up the ying-yang + stockholders + ...
know the final 3rd party appraiser’s valuation. Additionally, NXTP is scheduled to
go to court with Sprint-Nextel on November 17th and 18th.
they will both hire appraisers within the next 2-3 weeks.
i will keep everyone updated on this situation.
i wanted to let everyone know that on october 24th, my birthday, obviously nextel partners shareholders voted yes. so that means we have been on the clock since then. On Dec 28th (65 days), we should know where each
Bad for partners customers