CRA International’s Findings Cited By FCC And DOJ In Sprint Nextel Merger Approval
CRA's Consultants Apply Economic Analysis to Alleviate Antitrust and Competitive Concerns
BOSTON, September 15, 2005 - CRA International (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced its involvement in securing government approval of Sprint's $35 billion acquisition of Nextel. CRA Senior Consultant Steve Salop, and Vice Presidents Stan Besen and John Woodbury were engaged by Sprint and Nextel to provide economic analysis before the Federal Communications Commission (FCC) and Department of Justice (DOJ) in their evaluation of the likely competitive effects of their merger.
The empirical work contained in CRA's filings demonstrated that existing capacity to serve subscribers was sufficient to alleviate any concerns the FCC and DOJ might have about the potential for anticompetitive output reductions or price increases. CRA's filings also described the likely efficiencies from this merger, including the acquisition of a nationwide footprint in spectrum that will be used for a host of advanced communications services. The FCC and DOJ approved the merger without any spectrum or subscriber divestitures, explicitly citing CRA's findings in announcing their approval.
"CRA's economic analysis was a key element in the government's approval of this multi-billion dollar merger," said James C. Burrows, CRA's President and Chief Executive Officer. "We are pleased that the government specifically cited our antitrust work in approving the transaction. This engagement is indicative of the value CRA can bring to these high-profile matters and why many organizations have come to rely on CRA's expertise. Our team enjoyed working with Sprint and Nextel and we congratulate them on successfully executing their merger."
About CRA International
Founded in 1965, CRA International is an economics, finance, and business consulting
firm that works with businesses, law firms, accounting firms, and governments
in providing a wide range of services. CRA combines economic and financial analysis
with expertise in litigation and regulatory support, business strategy and planning,
market and demand forecasting, policy analysis, and engineering and technology
management. The firm is distinguished by a corporate philosophy of providing
responsive, top-quality consulting; an interdisciplinary team approach; unsurpassed
economic, financial, and other analytic skills; and pragmatic business insights.
In addition to its corporate headquarters in Boston and international offices
in Brussels, Canberra, Dubai, Hong Kong, London, Melbourne, Mexico City, Sydney,
Toronto, and Wellington, CRA also has U.S. offices in Cambridge, Chicago, College
Station, Dallas, Houston, New York, Oakland, Pasadena, Philadelphia, Salt Lake
City, Silicon Valley, and Washington, D.C. Detailed information about CRA can
be found at www.crai.com.
Contact:
Phil Cooper
Vice Chairman, EVP
CRA International, Inc.
617-425-3700
Jim Buckley
Executive Vice President
Sharon Merrill Associates, Inc.
617-542-5300