Softbank Acquires 70% of Sprint for $20 Billion

Softbank Acquires 70% of Sprint for $20 Billion

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Softbank, a Japanese cellphone carrier, has acquired a 70% stake in Sprint Nextel for $20 billion, reports BusinessInsider.

The deal is expected to be announced Monday morning and while certain details are still being worked out, the boards of both companies have signed off on a transaction under which Softbank will buy $8 billion worth of shares directly from Sprint and tender for another $12 billion worth of the shares from existing holders.

The price of the tender offer is $7.30 a share, a large premium to Sprint's current price. Given the deal's structure, it will not require a shareholder vote.

More details on the acquisition can be found at the link below...

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Softbank Acquires 70% of Sprint for $20 Billion
odedo1 - October 15, 2012 at 10:10am
those antennas are microwaves antennas point them down to a building instead of a satellite and you cook everybody in the building which will never happened but competition is always good when a new player is in town usually the prices go down like they did here now we pay $10 for unlimited everything and no more contracts which before we paid up to $100 with a contract and there was a 1000 minutes talking and texting limits and 2.5GB surfing limit a month, well no more Free phone of your choice $10 a month and everybody is happy. I really hope they do the same in the states and I might come back home.
MikeB - October 15, 2012 at 1:23pm
Where? What currency is $10? Yeah you're right competition is great but sometimes new companies bring new rules. Hope this is not one of those cases.
MikeB - October 15, 2012 at 5:57am
I hope this doesn't mess with my current unlimited plan which I love.
Jccisse - October 15, 2012 at 3:19am
You're quite short minded and quick to insult. And I won't wast my time explaining this to you. It's above your league. Go learn how to read.
Jccisse - October 15, 2012 at 3:25am
You're short-minded and very quick to insult people. Re-read (very slowly) his comment and you might just get it. Also, I won't bother to explain this to you because clearly, it is WAY above your league.
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