Clearing House Advisory Notices
To | Clearing Member Firms
From | Clearing House Department
Subject | CORPORATE EVENT: Nextel Communications, Inc - Anticipated adjustment due to proposed merger
Notice Date | 2005-07-13
Notice Number | 05-140
Effective Date |
On July 13, 2005, Shareholders of Nextel Communications, Inc. (“NXTL”) will vote to approve the proposed merger with Sprint Corporation (“FON”). If the merger is consummated, each existing NXTL Common Share will be converted into the right to receive 1.28 Series 1 Common Shares of the new combined company, “Sprint Nextel Corporation”, plus cash valued at .02 times the average Sprint Nextel Corporation price as described in the Joint Proxy Statement/Prospectus. The stock and cash considerations are subject to adjustments. Cash will be paid in lieu of fractional shares. For the full text of this advisory . . .