SoftBank Increases Sprint Nextel Offer To $21.6B

Mani

Published onJune 11, 2013

Updated on May 13, 2021

SoftBank Corp (USA) (OTCMKTS:SFTBF) (TYO:9984) agreed to enhance its offer for Sprint Nextel Corporation (NYSE:S) by 7.5 percent to $21.6 billion to counter Dish Network Corp (NASDAQ:DISH)'s unsolicited proposal of $25.5 billion.

Japan’s SoftBank Corp (OTCMKTS:SFTBF) (TYO:9984) will pay $16.6 billion to Sprint Nextel Corporation (NYSE:S)’s shareholders and infuse $5 billion of new capital for a 78 percent stake. The revised deal would facilitate shareholders get more money while Sprint Nextel Corporation (NYSE:S) gets less cash.

The Tokyo-based mobile-phone carrier has sweetened its offer with $7.48 a share of Sprint Nextel Corporation (NYSE:S), against...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

SoftBank Increases Sprint Nextel Offer To $21.6B

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