Softbank Acquires 70% of Sprint for $20 Billion

POST

MAIL

Posted October 14, 2012 at 11:51pm by iClarified

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...

Read More

Softbank Acquires 70% of Sprint for $20 Billion

Follow iClarified

Add Comment

Would you like to be notified when someone replies or adds a new comment?

Yes (All Threads)

Yes (This Thread Only)

Notifications

Would you like to be notified when we post a new Apple news article or tutorial?

Yes

Comments (5)

You must login or register to add a comment...

Add Comment

odedoo1 - 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.

Reply · Like