OVERLAND PARK, Kan.-Sprint Corp. closed its tender offer for all of the outstanding shares of wireless network affiliate US Unwired Inc. at the tender offer price of $6.25 in cash per share and a total price of $1.3 billion. The offer resulted in more than 154 million shares of US Unwired common stock being tendered, which accounted for about 95 percent of all outstanding shares.
The successful tender offer will result in the transfer of US Unwired’s more than 500,000 subscribers to Sprint as direct subscribers and extend Sprint’s service territory to 48 additional markets in nine states.
Sprint announced last month plans to acquire US Unwired, which had filed a lawsuit against Sprint claiming its pending acquisition of Nextel Communications Inc. would violate certain segments of its affiliate agreement. Sprint said earlier this week that it expects to close its acquisition of Nextel today.
