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All Sprint acquisition discussion (was "Japan's Softbank in talks for $12.8 bln Sprint stake")


kckid

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Strangely quiet today.  With the shareholder vote scheduled for Wednesday, I was fully expecting some smack talk out of Dish, at least.  Last we heard , they were still doing "due diligence" on Sprint's books.  Surely Dish wouldn't let the softbank transaction go to a vote without at least saying "we're done, we definitely want Sprint"?

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Strangely quiet today.  With the shareholder vote scheduled for Wednesday, I was fully expecting some smack talk out of Dish, at least.  Last we heard , they were still doing "due diligence" on Sprint's books.  Surely Dish wouldn't let the softbank transaction go to a vote without at least saying "we're done, we definitely want Sprint"?

 

I order to do that they actually have to make a tender offer not just a press release.

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Strangely quiet today. With the shareholder vote scheduled for Wednesday, I was fully expecting some smack talk out of Dish, at least. Last we heard , they were still doing "due diligence" on Sprint's books. Surely Dish wouldn't let the softbank transaction go to a vote without at least saying "we're done, we definitely want Sprint"?

 

 

I order to do that they actually have to make a tender offer not just a press release.

True. Big bluffin CharChar

 

Sent from my Note II. Its so big.

 

 

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Sprint and SoftBank Amend Merger Agreement to Deliver Greater Value to Sprint Stockholders

 

Under the amended Merger Agreement, SoftBank will deliver an additional $4.5 billion of cash to Sprint stockholders at closing, bringing the total cash consideration available to Sprint stockholders to $16.64 billion.

 

  • The price at which SoftBank will acquire shares from current Sprint shareholders will be increased from $7.30 per share to $7.65 per share, a 52% premium to the unaffected trading price prior to announcement in October 2012. 

 

LINK:  http://www.businesswire.com/news/home/20130610006626/en/Sprint-SoftBank-Amend-Merger-Agreement-Deliver-Greater

 

http://investors.sprint.com/file.aspx?IID=4057219&FID=17389040

 

Sprint also announced today that its Special Committee and Board of Directors have unanimously determined that the proposal submitted by DISH Network Corporation (“DISH”) on April 15, 2013 is not reasonably likely to lead to a “superior offer” under the Merger Agreement. Sprint has engaged with DISH since April 15 and, after receiving waivers from SoftBank under the Merger Agreement, allowed DISH due diligence to commence on May 21. Despite the Special Committee’s diligence, DISH has not put forward an actionable offer. As a consequence of the lack of progress with DISH and the improved terms from SoftBank, the Special Committee ended its discussions with DISH and will request that DISH destroy all of the Sprint confidential information made available in the course of its diligence.

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I think I read that Softbank will be lowering their capital investment from 8 billion to 5 billion. Sprint will be only getting 1.9 billion at closing, instead of the original 4.9 billion.  

 
Dang investors ruin everything. 
 
I guess some capital is better than no capital. 
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I think I read that Softbank will be lowering their capital investment from 8 billion to 5 billion. Sprint will be only getting 1.9 billion at closing, instead of the original 4.9 billion.

 

Dang investors ruin everything.

 

I guess some capital is better than no capital.

 

Is it worth it if the other 4.1 billion goes to the clearwire acquisition? It could raise Sprint's bid...

 

 

Sent from my iPhone 5 using Tapatalk 2

Edited by juant87
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Has the judge ruled if they can vote Wednesday yet?

 

 

Quote

 

June 7

By MARK DAVIS The Kansas City Star

A court hearing on whether to delay next week’s shareholder vote on Sprint’s acquisition by a Japanese company ended early Friday afternoon.

 

Johnson County District Judge Thomas M. Sutherland heard arguments from attorneys of shareholders who contended that Sprint’s $20.1 billion deal with SoftBank Corp. favors the buyer over existing shareholders.

The judge said there would be no ruling on Friday, but promised a written decision before next Wednesday.

 

...

 
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Is it worth it if the other 4.1 billion goes to the clearwire acquisition? It could raise Sprint's bid...

 

 

Sent from my iPhone 5 using Tapatalk 2

 

No, but the Clearwire bidding war is not over yet, and this gives sprint less capital to raise its offer for Clearwire.  I believe Sprint's best hope is if the Clearwire board formally come out against the Dish offer, like Sprint has with the Dish offer now. 

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I would be shocked if we've heard the last out of the Cap'n. 

 

"The revised merger agreement creates a deadline of June 18, 2013 for DISH to provide its ‘best and final’ offer and for the completion of deliberations by the Special Committee and notice to SoftBank."

 

He's furiously calling every executive friend he's got right now, desperately looking for a partner to help him fund an increased offer.    

 

Look for a loony press release and the Clearwire situation to become even more dire.  If there is anything juicy in the confidential information Sprint released to Dish, don't be surprised if it leaks. 

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Is it worth it if the other 4.1 billion goes to the clearwire acquisition? It could raise Sprint's bid...

 

 

Sent from my iPhone 5 using Tapatalk 2

I think the rest is going to shareholders pockets.

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This is good or stockholders, bad for us IMHO... But in the end might push Dish away...


http://dealbook.nytimes.com/2013/06/10/softbank-raises-bid-for-sprint-to-21-6-billion/

Edited by WiWavelength
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In keeping with the music themes (AJ) and Frays cartoon I offer Eric Claptons mega-hit "Running on Faith" from Unplugged in 1993; thats what many of us loyal Sprint subs are doing right now; guess we are all waiting on the river card in this hi-stakes game being played out

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And it does so by taking away over $3 billion of investment for Network Vision. Not incredibly happy about that...

 

Where does it say that?

 

For everything I read, all they did was ADD more cash?

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