SoftBank Increases Sprint Nextel Offer To $21.6B

HFA Padded
Mani
Published on
Updated on

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 $6.30 a share proposed earlier….

This content is exclusively for paying members of Hedge Fund Alpha

Log In

Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha

Don’t have an account?

Subscribe now and get 7 days free!

HFA Padded

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