SoftBank Raises Sprint Bid to $21.6 Billion

New deal means more cash for shareholders
Author:
Publish date:

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. 

Click
here to read the full story at Multichannel News.

Related