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TNDan21 · 06-24-2005, 1:33 AM

Nextel Partners CEO seeks forced sale to Sprint
Thursday June 23, 5:01 pm ET

Nextel Partners Inc. chief executive John Chapple wants Sprint to buy his company after Sprint acquires Nextel Communications, according to documents filed Thursday with the Securities and Exchange Commission.

The purchase price would be about $5 billion, based on the average trading price for Nextel Partners shares on June 20, according to the documents. The share value that day was $25.54.

Sprint (NYSE: FON - News) shareholders are scheduled to vote July 13 on buying Nextel Communications for $35 billion. Officials expect the merger to close in the third quarter.

Nextel Communications (Nasdaq: NXTL - News) already owns 32 percent of Nextel Partners.

In a letter to shareholders filed with the SEC, Chapple said he and a special committee of the company's board urged shareholders to exercise their "put right" within five days of the Sprint-Nextel merger. Exercising that right would force Sprint to buy all Nextel Partners shares it doesn't already own.

In SEC filings, Nextel Partners said the purchase price will be determined by an appraisal after the affirmative vote by shareholders.

The letter to shareholders warns that "the appraised fair market value of the shares ... could be higher or lower than the current market price of the shares."

The joint venture between Nextel and Nextel Partners defines fair market value "as the price that would be paid for all of our capital stock by a willing buyer to a willing seller, in an arm's-length transaction, as if we were a publicly traded and non-controlled corporation and the buyer were acquiring all of such capital stock, and assuming that we were being sold in a manner designed to attract all possible participants to the sales process and to maximize stockholder value," the documents say.

Nextel Partners (NASDAQ: NXTP - News) has 184.62 million shares, 19.7 million options to buy shares and 317,500 shares of restricted stock units outstanding, according to the document.

Nextel Partners sells Nextel's walkie-talkie wireless service in small- and medium-sized markets. The company had first quarter net income of $56.5 million, compared with $3.5 million a year earlier. It has 1.7 million subscribers.

Nextel Partners CEO seeks forced sale to Sprint

larry · 06-24-2005, 2:09 AM

So that means another 1.7 million customers to Sprint when it's all said and done? Not bad.

WirelessBeachBum · 06-24-2005, 9:42 AM

Quote:

Originally Posted by larry

So that means another 1.7 million customers to Sprint when it's all said and done? Not bad.

5 Billion cost to aquire is a bit much...

agentHibby · 06-24-2005, 11:55 AM

Nextel Partners buyout

Wonder if any of Sprints affilates might want to be bought out by Sprint

bobolito · 06-24-2005, 12:23 PM

So what's going to happen with Nextel operations in Latin America? Mexico, Brazil, Peru and Argentina.

NYCDru · 06-24-2005, 2:04 PM

REALLY good question. We have heard nothing about this lately.

Makes me glad I am happy with Verizon. Cingular has been unstable and Sprint/Nextel is about to go that way. Sprint however will be paying 40 Billion for a Nationwide PCS 10MHz licens along with what, 15 million customers? Plus tower placements in places were they need them. Not a bad deal really. The question again is. Are they willing to LOOSE 2 Billion dolars over the next 2 years AND be debt/cash strapped for that time in order to make sure this goes as smoothly as possible.

WirelessBeachBum · 06-24-2005, 2:24 PM

While at the same time upgrading to EVDO....

Are there areas where Sprint PCS affiliates and Nextel partners overlap?

They used to in Southwest Virginia....

Markets with combinations like that are going to be real interesting.

larry · 06-24-2005, 3:10 PM

Quote:

Originally Posted by agentHibby

Nextel Partners buyout

Wonder if any of Sprints affilates might want to be bought out by Sprint

Who knows. The Sprint affiliates are for the most part in good shape right now. They've combined a lof of the smaller affiliates together through mergers and negotiated better deals with Sprint. But at some point I think the affiliates will go.

TNDan21 · 06-24-2005, 3:46 PM

Quote:

Originally Posted by WirelessBeachBum

Are there areas where Sprint PCS affiliates and Nextel partners overlap?

Yes, my area (Tri-Cities, TN/VA) is ran by Nextel Partners and is a Sprint affliate ran by Horizon PCS.

Fathead · 06-24-2005, 5:21 PM

it's the same here in east id. Ubiquitel and nextel partners.

06-24-2005, 1:33 AM	#1 (permalink)
TNDan21 Join Date: Dec 2001 Location: Kingsport, TN Posts: 5,956 Phone(s): LG enV2, Samsung t219 Provider(s): Verizon Wireless, T-Mobile Devices: iPod Nano Thanks: 0 Thanked 4 Times in 4 Posts	Nextel Partners CEO seeks forced sale to Sprint Nextel Partners CEO seeks forced sale to Sprint Thursday June 23, 5:01 pm ET Nextel Partners Inc. chief executive John Chapple wants Sprint to buy his company after Sprint acquires Nextel Communications, according to documents filed Thursday with the Securities and Exchange Commission. The purchase price would be about $5 billion, based on the average trading price for Nextel Partners shares on June 20, according to the documents. The share value that day was $25.54. Sprint (NYSE: FON - News) shareholders are scheduled to vote July 13 on buying Nextel Communications for $35 billion. Officials expect the merger to close in the third quarter. Nextel Communications (Nasdaq: NXTL - News) already owns 32 percent of Nextel Partners. In a letter to shareholders filed with the SEC, Chapple said he and a special committee of the company's board urged shareholders to exercise their "put right" within five days of the Sprint-Nextel merger. Exercising that right would force Sprint to buy all Nextel Partners shares it doesn't already own. In SEC filings, Nextel Partners said the purchase price will be determined by an appraisal after the affirmative vote by shareholders. The letter to shareholders warns that "the appraised fair market value of the shares ... could be higher or lower than the current market price of the shares." The joint venture between Nextel and Nextel Partners defines fair market value "as the price that would be paid for all of our capital stock by a willing buyer to a willing seller, in an arm's-length transaction, as if we were a publicly traded and non-controlled corporation and the buyer were acquiring all of such capital stock, and assuming that we were being sold in a manner designed to attract all possible participants to the sales process and to maximize stockholder value," the documents say. Nextel Partners (NASDAQ: NXTP - News) has 184.62 million shares, 19.7 million options to buy shares and 317,500 shares of restricted stock units outstanding, according to the document. Nextel Partners sells Nextel's walkie-talkie wireless service in small- and medium-sized markets. The company had first quarter net income of $56.5 million, compared with $3.5 million a year earlier. It has 1.7 million subscribers. Nextel Partners CEO seeks forced sale to Sprint

06-24-2005, 2:09 AM	#2 (permalink)
larry Go Angels! Join Date: Oct 2001 Location: Orange County, CA Posts: 12,846 Phone(s): LG Rumor Provider(s): Sprint Thanks: 11 Thanked 14 Times in 14 Posts Images: 144 My Auctions	Re: Nextel Partners CEO seeks forced sale to Sprint So that means another 1.7 million customers to Sprint when it's all said and done? Not bad.

06-24-2005, 11:55 AM	#4 (permalink)
agentHibby Iowa Cellular Guru Join Date: Sep 2003 Location: SID 150 or 1214 Posts: 3,470 Phone(s): Nokia 6256i, (retired) Motorola V120c, Timeport 270c, Nokia 252 (Airtouch) Provider(s): Verizon Wireless Thanks: 0 Thanked 0 Times in 0 Posts	Re: Nextel Partners CEO seeks forced sale to Sprint Nextel Partners buyout Wonder if any of Sprints affilates might want to be bought out by Sprint __________________ If Verizon can buy out their affiliates they would be better off.

06-24-2005, 12:23 PM	#5 (permalink)
bobolito iPhone 3G 16GB (White) Join Date: May 2002 Location: New Sanfrakota Posts: 12,364 Phone(s): iPhone 3G, RAZR V9, Sierra 875 3G Aircard, HP iPaq Classic 110 Provider(s): AT&T Mobility Devices: WiFi cards/Access points Thanks: 3 Thanked 11 Times in 10 Posts Images: 50 My Auctions	Re: Nextel Partners CEO seeks forced sale to Sprint So what's going to happen with Nextel operations in Latin America? Mexico, Brazil, Peru and Argentina. __________________

06-24-2005, 2:04 PM	#6 (permalink)
NYCDru Sprint Newbie Join Date: Sep 2002 Location: NYC Posts: 3,243 Phone(s): Motrola V3m, Moto E815, Audiovox 9900, Audiovox 8900, LGvx 10,, Nokia 3360, Moto P8767 Provider(s): Sprint, Verizon(former), ATT(former), Devices: IPod Nano. Thanks: 0 Thanked 0 Times in 0 Posts	Re: Nextel Partners CEO seeks forced sale to Sprint REALLY good question. We have heard nothing about this lately. Makes me glad I am happy with Verizon. Cingular has been unstable and Sprint/Nextel is about to go that way. Sprint however will be paying 40 Billion for a Nationwide PCS 10MHz licens along with what, 15 million customers? Plus tower placements in places were they need them. Not a bad deal really. The question again is. Are they willing to LOOSE 2 Billion dolars over the next 2 years AND be debt/cash strapped for that time in order to make sure this goes as smoothly as possible.

06-24-2005, 2:24 PM	#7 (permalink)
WirelessBeachBum Soylent Green is People Join Date: Jul 2002 Location: Hilton Head Island, SC Posts: 2,728 Phone(s): 6800 Provider(s): Alltel Wireless Thanks: 0 Thanked 0 Times in 0 Posts My Auctions	Re: Nextel Partners CEO seeks forced sale to Sprint While at the same time upgrading to EVDO.... Are there areas where Sprint PCS affiliates and Nextel partners overlap? They used to in Southwest Virginia.... Markets with combinations like that are going to be real interesting. __________________ WirelessBeachBum

06-24-2005, 5:21 PM	#10 (permalink)
Fathead Cingular Troll=OK! Join Date: Jun 2003 Location: Pocatello, ID Posts: 1,017 Thanks: 0 Thanked 0 Times in 0 Posts	Re: Nextel Partners CEO seeks forced sale to Sprint it's the same here in east id. Ubiquitel and nextel partners.

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