Sprint Orders Appraisal of Nextel Partners, Inc.

1:37 am on November 14, 2005 | Category: Business, Corporate, Wireless

Even after its much-publicized acquisition of Nextel, the newly formed Sprint Nextel Corp. still doesn’t possess a controlling interest in corporate affiliate, Nextel Partners, Inc.

Sprint Nextel has now hired an investment firm called Lazard, Ltd. to give a full appraisal of Nextel Partners Inc., so as to determine the price that the mobile giant will have to pay existing shareholders for full ownership. Nextel Partners, meanwhile, has hired Morgan Stanley & Co. as its appraiser.

The investment firms now have 45 days to give their official appraisals of the corporation. If the values that they give are more than 10% apart, a third appraiser will have to be hired.

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    1. UPDATE: The appraisals resulted in a conclusive deal being reached between the two companies, at a buyout price of $28.50/share.

      Comment by Jeremy — December 21, 2005 #

    2. [...] Two recent appraisals of Nextel Partners Inc. have resulted in a deal between telecom giant, Sprint Nextel and its largest affiliate. [...]

      Pingback by Sprint Reaches Buyout Deal with Nextel Partners » Telecommunications Industry News — May 24, 2006 #

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