For months, Sprint Nextel has been trying to buy Nextel Partners, but the two sides have not been able to agree on a price. Sprint Nextel had even filed lawsuits against the affiliate, which serves midsize and small markets using the Nextel brand name.
Sprint Nextel argued that the price Nextel Partners was offering was too high because the company's stock was inflated due to the expectations of a buyout. Sprint Nextel ended up paying $28.50 per share for Nextel Partners, which closed at $26.32 a share on Monday.
Sprint has been buying up affiliates since itswas finalized in August.
Last month, it, based in Lubbock, Texas, for $4.3 billion. It also bought U.S. Unwired, based in Lake Charles, La., for $1.3 billion; Gulf Coast Wireless, based in Baton Rouge, La., for $287.5 million; and IWO Holdings based in Albany, N.Y., for $427 million.