RUTHERFORD, N.J.-Nextel Communications Inc. and American Mobile Systems Inc. have entered into an agreement to merge operations, Nextel said.
Plans call for the entire, fully-diluted equity interest in AMS to be exchanged for an aggregate of 3,700,000 shares of Nextel Class A Common Stock, or .545 a share of Nextel stock per share of AMS stock.
The pending transaction also would provide Nextel with certain specialized mobile radio systems in Florida. It should be a tax-free move for AMS stockholders, Nextel said. Plans call for the merger to be completed by year’s end.
