Softbank says its bid for Sprint Nextel superior

April 16, 2013

SoftBank Corp. says it believes its bid for U.S. wireless carrier Sprint Nextel is a better choice than the $25.5 billion counteroffer by Dish Network Corp.

Dish says its cash and stock offer beats Softbank's.

Softbank said in a statement Tuesday that the agreed terms of its deal "offer Sprint shareholders superior short and long term benefits to Dish's highly conditional preliminary proposal." The Japanese company said it expects to finalize the deal under the terms already agreed upon by July 1.

Softbank, a holding company with Internet and telecoms investments, is offering $20.1 billion in cash for Sprint, and allowing shareholders to keep 30 percent.

It is unclear if Softbank's CEO Masayoshi Son, a famously aggressive dealmaker, will raise his offer. Softbank shares fell 6.8 percent in Tokyo Tuesday.

Explore further: Dish Network offering to buy Sprint in $25.5B deal

0 shares

Related Stories

Dish Network offering to buy Sprint in $25.5B deal

April 16, 2013

Dish Network Corp. is trying to snag U.S. wireless carrier Sprint Nextel away from Japan's Softbank Corp., the latest sign that satellite dishes are losing their relevance in the age of cellphones that play everything from ...

Sprint raises offer to buy Clearwire for $2.2B

December 17, 2012

Sprint, the third-largest U.S. cellphone company, said Monday that it will buy out the portion of wireless network operator Clearwire that it doesn't already own after raising its offer price to $2.2 billion.

Sprint seeks majority control of Clearwire (Update)

October 18, 2012

(AP)—Flush with the promise of cash from a Japanese investor, Sprint Nextel Corp. on Thursday said that it wants to buy out the founder of Clearwire Corp. to gain majority control of the wireless network operator.

Recommended for you

Volvo to supply Uber with self-driving cars (Update)

November 20, 2017

Swedish carmaker Volvo Cars said Monday it has signed an agreement to supply "tens of thousands" of self-driving cars to Uber, as the ride-sharing company battles a number of different controversies.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.