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Billionaires Battle For Sprint: SoftBank Raises Bid To Stop Dish Network

Discussion in 'News' started by Athlon646464, Jun 11, 2013.

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  1. Athlon646464

    Athlon646464 Gold Members DBSTalk Gold Club

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    Feb 23, 2007
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    Billionaires Battle For Sprint: SoftBank Raises Bid To Stop Dish Network

    SoftBank will increase its offer to buy Sprint Nextel in hopes of warding off a competing bid from Dish Network. SoftBank agreed to boost the bid by 7.5% to $21.6 billion–the latest turn in the struggle for Sprint by two billionaire chiefs, Softbank ‘s Masayoshi Son and Dish Network’s Charlie Ergen.

    In the SoftBank deal, the Japanese mobile carrier would pay $16.6 billion and put $5 billion of new capital for a 78% stake. Previously, Sprint offered $12.1 billion in cash and $8 billion in capital for 70%. Dish has a week to make its “best and final” offer after Sprint separately said that its current $25.5 billion isn’t good enough.

    Full Story Link & Continuing Discussion Here
     
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