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Article: Sprint Nextel Says It Intends to Pursue Appraisal Process with Nextel Partners.
- Article from:
- Business Wire
- Article date:
- August 17, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RESTON, Va. -- Sprint Nextel Corporation (NYSE:S) announced today that it intends to pursue the appraisal process under the so-called "put" provisions of Nextel Partners' certificate of incorporation rather than pursuing a negotiated acquisition. Sprint Nextel added that it is filing a statement with the SEC outlining its views on what it sees as valuation and other issues arising under the complex and unusual put provisions.
Nextel Partners has said that a special committee of its board recommended that Partners' shareholders initiate the process spelled out in Partners' charter to put their shares to Sprint Nextel as a result of the Sprint Nextel merger that ...