Documents Reveal Mystery Bidder For Virgin Mobile USA During Eight Month Sale Process

Entities Mentioned

• Nextel
• América Móvil
• Virgin Mobile USA
• Sprint Nextel

1. A document filed with the SEC provides explicit details of the eight-month long sale of Virgin Mobile USA (NYSE: VM) to Sprint (NYSE: S) Nextel. The day-to-day account reveals that Virgin Mobile was able to increase the sale price through negotiations with more than one bidder, however, it failed to garner as much money as it initially sought. The document was filed by Sprint Nextel and is seeking shareholder approval of the acquisition. It says Virgin Mobile USA was initially seeking a price of $6.37 a share, and that a mystery bidder called “Company ... (Read Full Article)

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