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Sprint Nextel to Buy Midwest Affiliate iPCS in $831M Deal

Authored by Mark Hefflinger on October 19, 2009 - 8:26am.
Reston, Va. - Ending years of litigation over territory rights, Sprint Nextel (NYSE: S) said on Monday that it will acquire Midwest affiliate iPCS in a deal worth $831 million. Under the agreement, Sprint Nextel will launch a cash tender offer for the Illinois-based company, paying $24 a share. The acquisition is expected to be completed by late this year or early 2010.
tags: Deals | Mobile | Acquisitions | Sprint Nextel | iPCS |