Wednesday, June 12, 2013

Softbank increases Sprint offer to $21.6 Billion

With the recent issues with Dish trying to purchase Sprint Japanese carrier SoftBank has increased their offer to buy a majority stake in Sprint. The new offer has been increased to $21.6 billion, which was a counter offer after Dish Network’s latest proposal. The additional $1.5 billion softbank is offering has pretty much sealed the deal and now have cut any talks with Dish stating the special committee examining the offers "is not reasonably likely to lead to a 'superior offer." While this back and forth has been going with Sprint and SoftBank they’ve also mentioned they’ll consider T-Mobile as a secondary option if the deal with Sprint happens to fall through. The Sprint/SoftBank deal has already been approved by the US Government and Sprint will be having a shareholder meeting today to decide if they’ll continue with SoftBank’s offer.