Market Overview

Sprint, SoftBank Complete Merger

Related S
Sprint CEO To T-Mobile CEO: I'm Tired Of Your 'Bullsh!t'
Buckingham Research Initiates Sprint With Neutral
Telecom Stock Roundup: AT&T - DIRECTV Deal Nears Close, Time Warner Cable Suffers Net Neutrality Blow - Analyst Blog (Zacks)

Sprint Nextel Corporation (NYSE: S) (“Sprint”) and SoftBank Corp. (OTC: SFTBY) today announced the completion of their merger
whereby SoftBank has invested approximately $21.6 billion in Sprint,
consisting of approximately $16.6 billion to be distributed to Sprint
stockholders and an aggregate $5 billion of new capital ($1.9 billion at
closing) to strengthen Sprint's balance sheet. Sprint stockholders voted
to approve the transaction at a special meeting of stockholders held on
June 25, 2013.

Through this transaction, approximately 72 percent of current Sprint
shares are being acquired by SoftBank for $7.65 per share in cash, and
the remaining shares are being converted into shares of a new publicly
traded entity named Sprint

See full press release

Posted-In: News Guidance Contracts Asset Sales Management M&A Global


Related Articles (S + SFTBY)

Around the Web, We're Loving...

Get Benzinga's Newsletters