Sprint Nextel Corp.'s newly unified stock fell 10 cents to close at $26.05 Monday on the New York Stock Exchange.
Sprint Corp. on Friday completed its acquisition of Reston, Va.-based Nextel Communications Inc., adding to Sprint's standing as the third-largest wireless provider. It now has 40 million customers.
The company said Monday that Nextel shareholders would receive 1.27 shares of Sprint Nextel stock and 85 cents for each of their shares. A final price tag for the merger is expected on or before Wednesday.
Sprint Nextel said Monday that its spinoff local company would have $7.25 billion in debt and award annual dividends of about $300 million.
The unified company plans to spin off its local phone service division to a separate company in the next nine to 12 months. That company would be the fifth-largest in the country with 7.5 million access lines in 18 states.
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