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

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#1 OFFLINE   Athlon646464


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Joined: Feb 23, 2007

Posted 11 June 2013 - 09:58 AM

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.

1 HR34-700, 1 C31-700, 1 HR24-500
Original install on April 20, 2008 - HR34 & C31 installed on August 24, 2013 - HR24 installed on July 23, 2010

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