Article: iPCS and Horizon PCS Announce Merger of Equals; Combined Company will be second largest wireless Affiliate of Sprint in terms of Covered POPs with 11.2 million Covered POPs and will have 432,000 subscribers.

SCHAUMBURG, Ill. & CHILLICOTHE, Ohio -- Conference call and webcast planned for 9:00 a.m. Eastern time today to discuss merger

iPCS, Inc. (Pink Sheets:IPCX) and Horizon PCS, Inc. (Pink Sheets:HZPS), both wireless Affiliates of Sprint, today announced that their respective boards of directors have approved, and the parties have executed, a definitive agreement under which Horizon PCS will merge with and into iPCS, Inc.

Under the terms of the merger agreement, Horizon PCS stockholders will receive 0.7725 iPCS shares for each share of Horizon PCS common stock they hold, subject to adjustment. After closing, iPCS stockholders will own approximately 57.5% of ...

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