Market Currents

• Tuesday, November 17, 2009

• 17:11 PM Sprint Nextel's (S +5.7%) $24/share bid for IPCS (IPCS) is too low, and should be $34 to $47, says Greywolf Capital Management, the third-largest shareholder in the smaller phone carrier. Greywolf says the higher price would be in line with what Sprint has paid for other affiliate networks. 1 Comment

• Monday, October 19, 2009

• 09:00 AM Premarket gainers: IPCS +34%. ALLI +19%. CIT +7%. AAI +5%. CEO +5%. IMMU +4%. SIRI +4%. IMMU +4%.
  Losers: IDCC -9%. BEXP -6%. BBT -4%. Comment!
• 08:02 AM Sprint Nextel (S) to buy its affiliate IPCS Inc. (IPCS) for $24/share, a 34% premium. Including $405M of debt, the deal will cost Sprint $831M. (PR) IPCS +33% to $23.79 premarket. Comment!