US operator Sprint has announced an agreement to acquire regional affiliate US Unwired for approximately $1.3 billion.
According to the agreement, Sprint will commence a cash tender offer to acquire all of US Unwired’s outstanding common stock at a price of $6.25 per share. Following completion of the tender offer, any remaining shares of US Unwired will be acquired in a cash merger at the same price. Sprint will also acquire the regional operator’s net debt of approximately $266 million as of March 31, 2005. US Unwired provides Sprint PCS services in nine states, serving more than 500,000 subscribers in 48 markets.
