Sprint-iPCS $831M Deal To End Midwest Territory Spats

Law360, New York (October 19, 2009, 6:58 PM EDT) -- Sprint Nextel Corp. has agreed to acquire affiliate iPCS Wireless Inc. in an $831 million deal that will bring an end to all litigation between the companies over an operating contract and keep the telecommunications giant from having to sell off its integrated digital enhanced network assets in some iPCS territories in the Midwest.

The companies structured the deal as a cash tender offer, through which Sprint will acquire all outstanding shares of iPCS' common stock for $24 a piece and a minimum majority of the...
To view the full article, register now.