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AirGate Considering Alamosa Bid

Stock quotes in this article: APCS , PCSA , FON  

Updated from 10:20 a.m.

Saying it's tired of being ignored, Alamosa (APCS Quote) Monday aired a proposal to merge with rival AirGate (PCSA Quote).

Alamosa, a Lubbock, Texas-based cell-phone service provider, said it made an unsolicited offer a month ago to buy AirGate in a deal that would unite a pair of Sprint (FON Quote) wireless affiliates. Alamosa said it would pay $354 million in stock, or in a combination of stock and cash. Based on closing share prices Friday, the deal would offer about a 9% premium to AirGate holders. ...

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