Sprint Nextel Announces Preliminary Stock and Cash Consideration for Nextel Common Stock
Posted on: Monday, 15 August 2005, 09:00 CDT
Sprint Nextel Corporation (NYSE:S) today announced that, in connection with the completion of the merger transaction between Sprint Corporation and Nextel Communications, Inc. on Aug. 12, 2005, based on preliminary calculations, holders of Nextel common stock will receive approximately 1.2675 shares of Sprint Nextel common stock and approximately $0.8463 in cash in exchange for each share of Nextel common stock. The per share cash amount is based on the estimated cash ratio of 0.0325, multiplied by $26.04, the average of the per share closing prices of shares of Sprint series 1 common stock during the 20 trading day period on the New York Stock Exchange ending on (and including) the closing date. The actual stock exchange ratio, cash ratio and per share cash merger consideration are expected to be announced on or before Aug. 17, 2005.
The actual stock exchange ratio, cash ratio and per share cash merger consideration will be computed in accordance with the adjustments set forth in the merger agreement and will be based on, among other things, the actual number of shares of Sprint and Nextel stock outstanding immediately before the effective time of the merger.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of wireless and wireline communications services to consumer, business and government customers. Sprint Nextel is widely recognized for developing, engineering and deploying innovative technologies, including two robust wireless networks offering industry leading mobile data services; instant national and international push-to-talk capabilities; and an award-winning and global Tier 1 Internet backbone. For more information, visit www.sprint.com.
Source: Business Wire
Related Articles
- American Natural Energy Corporation Announces Agreement to Issue Shares of Common Stock
- Sunoco Declares Quarterly Dividend of 30.0 Cents Per Share on Common Stock
- CNSV Acquires 100 Percent of Oil and Gas Rights On 10,000 Acres in Eastern Kentucky for $200,000 in Cash and $800,000 in Common Stock (415,584 Shares) Valued At $1.92 Per Share
- ER Urgent Care Holdings, Inc.'s Board of Directors Authorizes Its Officers and Directors to Exchange Over 1,000,000,000 Shares of Common Stock for Preferred -- As Stated on Investor's Business Daily
- Sunoco, Inc. Declares Quarterly Dividend of 30.0 Cents Per Share on Common Stock
- Allos Therapeutics Announces Pricing of Public Offering of 10,800,000 Shares of Common Stock
- Polypore International, Inc. Prices Follow-On Offering of 7.5 Million Shares of Common Stock
- Republic Airways Holdings Inc. Announces Follow-on Public Offering of 7,750,000 Shares of Common Stock at $12.60 Per Share
- Nextel, Sprint Boards Approve Merger
- Nextel, Sprint in Advanced Merger Talks
 |
 |
User Comments (0)
RSS Feeds