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Article: Nextel Partners Buyout by Sprint Nextel - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- December 20, 2005
- Author:
CopyrightCopyright 2008 Zacks Investment Research. (Hide copyright information)
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Nextel Partners Buyout by Sprint Nextel - Analyst Blog
Sprint Nextel (S)
announced today that it will acquire the remaining 68% of
Nextel Partners (NXTP)
that it does not own for $6.5 billion, or $28.50 per share in cash. We believe the announcement is positive for Sprint Nextel in that it moves the wireless carrier one step closer to settling its differences with all of the various Sprint and Nextel affiliates, thereby eliminating a major overhang on the shares.
The purchase price, which represents the average of the fair market value estimates provided by Morgan Stanley and Lazard (the two appraisers selected by ...