Sprint/Nextel: A reasonable ending

It may not be peace on earth, but Sprint Nextel and its affiliate Nextel Partners have ended their fight. The two look set to split the difference in their quibble over Partners’ value. Sprint, trapped in a put agreement that forced it to buy Partners, never had much of a choice but to submit to the process. Still, the deal provides only an 8% upside on Partners’ Monday close. But it is a 65% premium to the company’s undisturbed price before the Sprint/Nextel merger hit the headlines just over ...