Sprint Nextel Corp. (S) announced the completion of its acquisition of iPCS, Inc. (IPCS), for about $831 million, including the assumption of $405 million of net debt. Sprint Nextel acquired all of iPCS's outstanding common shares for $24.00 per share in an all-cash transaction.
Pursuant to the closing of the merger, iPCS has become a wholly-owned subsidiary of Sprint Nextel. iPCS shares will cease trading on Nasdaq as of the closing of the market today and will be delisted. The completion of this acquisition also allows Sprint Nextel and iPCS to resolve all the litigation pending between them.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.