Alamosa Stockholders Approve Business Combination with Sprint Nextel
January 25 2006 - 4:23PM
Business Wire
Alamosa Holdings, Inc. (Nasdaq/NM: APCS) announced that at its
Special Meeting of stockholders held today, stockholders of
Alamosa, representing an aggregate of 77% of the outstanding common
stock and series B convertible preferred stock of Alamosa, of which
99% voted for the proposal to adopt the merger agreement by and
among Sprint Nextel Corporation (NYSE: S), AHI Merger Sub Inc. and
Alamosa Holdings, Inc. and approve the merger of AHI Merger Sub
Inc. with and into Alamosa. Under the terms of the merger
agreement, holders of Alamosa common stock will receive $18.75 in
cash for each share of Alamosa common stock they hold. Holders of
Alamosa series B convertible preferred stock will receive $1,378.69
in cash (equivalent to the amount to be paid in respect of shares
of Alamosa common stock on an "as converted" basis), plus any
accrued and unpaid dividends. The transaction is expected to close
shortly. "We are pleased to announce the overwhelming affirmative
vote of our stockholders to merge with Sprint Nextel," said David
E. Sharbutt, Chairman and Chief Executive Officer of Alamosa
Holdings, Inc. "We believe our Company provides Sprint Nextel with
a set of assets that possess many great attributes including: our
territories with 23 million total POPs and 20 million covered POPs,
our 1.5 million subscribers, our network that provides world-class
wireless services and over 1,300 dedicated employees." Mr. Sharbutt
also stated, "I thank our employees, officers and directors for
what Alamosa has created, accomplished and become in its short
six-year history. By living our values and working extremely hard,
we built a world class telecommunications company--the standard by
which others are measured." ABOUT ALAMOSA Alamosa is the largest
(based on number of subscribers) Sprint PCS Affiliate of Sprint
Nextel, which operates the largest all-digital, all-CDMA
Third-Generation (3G) wireless network in the United States.
Alamosa has the exclusive right to provide digital wireless mobile
communications network services under the Sprint Nextel brand name
throughout its designated territory located in Texas, New Mexico,
Oklahoma, Arizona, Colorado, Utah, Wisconsin, Minnesota, Missouri,
Washington, Oregon, Arkansas, Kansas, Illinois, California,
Georgia, South Carolina, North Carolina and Tennessee, which
includes a licensed population of 23.2 million residents. FORWARD
LOOKING STATEMENTS A number of the matters discussed in this
document that are not historical or current facts deal with
potential future circumstances and developments, in particular,
information regarding the acquisition of Alamosa. The discussion of
such matters is qualified by the inherent risks and uncertainties
surrounding future expectations generally, and also may materially
differ from actual future experience involving any one or more of
such matters. Such risks and uncertainties include: satisfaction of
various conditions to the closing of the merger contemplated by the
merger agreement and the risks that have been described from time
to time in Alamosa's reports filed with the SEC, including its
annual report on Form 10-K for the year ended December 31, 2004 as
amended, and its quarterly reports on Form 10-Q filed in 2005. This
document speaks only as of its date, and Alamosa disclaims any duty
to update the information herein.
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