Printed from http://www.electronista.com

SoftBank aims to complete Sprint acquisition by July 1st

updated 08:17 am EDT, Tue April 16, 2013

Statement states companies in advanced approval stages

Japanese carrier SoftBank is expecting to complete its acquisition of Sprint by July, despite a sudden roadblock in the form of alternate offers to Sprint. A statement from Softbank providing a date for completion comes in the wake of Sprint receiving a second bid from Dish Network to merge, valued at $25.5 billion.

The statement, picked up by All Things D, states "SoftBank believes that the agreed terms of our transaction with Sprint offer Sprint shareholders superior short and long term benefits to Dish's highly conditional preliminary proposal. The SoftBank-Sprint transaction is in the advanced stages of receiving the necessary approvals, and we expect to consummate the transaction on July 1, 2013."

Though the acquisition is likely to go through, if Dish's offer was taken up instead, SoftBank could in theory walk away from the $20.1 billion investment $3.5 billion richer. Reuters notes that a $3.1 billion convertible bond SoftBank bought from Sprint last year would provide a profit of $1 billion, while currency hedging and the $600 million break-up fee would push the figure higher.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Epson PowerLite Home Cinema 3500 projector

Trying to find the perfect projector for a home theater can be tricky, as there are bountiful options on the market from a large numbe ...

Thecus N2310 NAS

For every computer user, there comes a point of critical mass in data storage. When it hits, external hard drives, USB sticks and DVD ...

iRig Pads

When it comes to mobile music products, IK Multimedia has positioned itself as one of the top suppliers. Right from the early days of ...

Advertisement

toggle

Most Commented

 
toggle

Popular News