Sprint / Nextel reach tentative deal
Dec 10 - 04:15 PM ET | Nextel, Rumor, Sprint PCS
Another Wall Street Journal exclusive--Sprint and Nextel have reached a tentative agreement valued at $36 billion [paid subscription req.] concerning the proposed merger.
The talks, characterized as advanced negotiations, could still fall apart, but if things stay on track, a deal could be announced soon. Those terms will pay Nextel shareholders the equivalent of 1.3 shares of Sprint stock, with a small cash element in order to ensure that current Sprint shareholders have more than 50% of the combined company.
The non-wireless portion of Sprint will be spun off. Sprint's CEO would head the new company while the board is split 50/50 between Sprint and Nextel executives.
As always, MobileTracker will watch this story closely to bring you the very latest.
Update: CBS Marketwatch is now running nearly the same story. No subscription required.
Related articles
- Spidy locks deal with Sprint PCS
- Treo 600 gets Java, Sprint deal
- Sprint/Nextel analysis
- Sprint / Nextel get friendly on portability