Nextel Will Acquire American Mobile Systems
American Mobile Systems Inc., a Woodland Hills company that provides mobile radio services in Florida, agreed last week to be acquired by wireless communications giant Nextel Communications Inc. in a stock deal valued at about $65 million.
Nextel, based in New Rutherford, N.J., already owns about 10% of American Mobile’s shares. The two companies have spent the better part of three years negotiating various stock purchase agreements that would have given Nextel a majority ownership stake in American Mobile.
The pending sale, which has been approved by American Mobile’s board of directors but is awaiting review by its shareholders, is expected to become final this summer.
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