SoftBank Raises Sprint Bid to $21.6 Billion

New deal means more cash for shareholders

By Mike Farrell, Multichannel News -- Broadcasting & Cable, 6/11/2013 9:46:18 AM

Japanese wireless giant SoftBank raised its bid for Sprint Nextel to $21.6 billion late Monday, a deal that could put more cash in Sprint shareholders hands.

According to its latest proposal, SoftBank would pay $7.65 per share for Sprint, up from the $7.30 per share it originally offered.

SoftBank will continue to invest $1.9 billion in New Sprint at closing, which in addition to the $3.1 billion convertible debt investment made by SoftBank in October 2012, brings SoftBank's total investment in Sprint to $5.0 billion. 

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