Comcast Exercises Dial Page Pre-emptive Rights.RUTHERFORD, N.J.--(BUSINESS WIRE)--May 1, 1995--Nextel Communications Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CALL) announced today that it has received notice that a Comcast Corporation subsidiary has exercised its right to a pre-emptive pre·emp·tive or pre-emp·tive adj. 1. Of, relating to, or characteristic of preemption. 2. Having or granted by the right of preemption. 3. a. purchase of shares relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Nextel's pending merger with Dial Page Inc. Under terms of Nextel's agreement with Comcast, the pre-emptive rights Pre-Emptive Right The right of a company's existing common shareholders to have the first chance to purchase shares in a company's future stock issue. Notes: Also known as "pre-emption rights". See also: Common Stock, No-Par-Value Stock, Stock with respect to the pending transactions with Motorola, OneComm and the McCaw family (a total of approximately 38 million shares) lapsed on April 30, 1995 The exact number of shares to be purchased in accordance with the pre-emptive rights agreement is dependent on the number of shares issued for the Dial Page merger, but is expected to be not more than approximately ten million shares at a price of $12.25 per share (the price paid by the McCaw family). The closing on the Comcast pre-emptive purchase would occur shortly after the merger with Dial Page is consummated. CONTACT: Nextel Communications Nextel Communications, styled NEXTEL, (Former NASDAQ: NXTL) which is now known as the Sprint Nextel Corporation was a telecommunications firm based in the United States. Known for providing a nation-wide mobile communications system. , Rutherford Paul Blalock, 201/531-5200 |
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