JeffDTD Posted June 10, 2013 Share Posted June 10, 2013 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"? Quote Link to comment Share on other sites More sharing options...
bigsnake49 Posted June 10, 2013 Share Posted June 10, 2013 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. 1 Quote Link to comment Share on other sites More sharing options...
jefbal99 Posted June 10, 2013 Share Posted June 10, 2013 I order to do that they actually have to make a tender offer not just a press release. Like this? http://finance.yahoo.com/news/dish-network-says-due-diligence-171143387.html Quote Link to comment Share on other sites More sharing options...
bigsnake49 Posted June 10, 2013 Share Posted June 10, 2013 Like this? http://finance.yahoo.com/news/dish-network-says-due-diligence-171143387.html That's just Dish doing their due diligence. After that is completed then they may or may not do a formal offer. Quote Link to comment Share on other sites More sharing options...
JeffDTD Posted June 10, 2013 Share Posted June 10, 2013 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. 2 Quote Link to comment Share on other sites More sharing options...
bucdenny Posted June 11, 2013 Share Posted June 11, 2013 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. 18 Quote Link to comment Share on other sites More sharing options...
bucdenny Posted June 11, 2013 Share Posted June 11, 2013 This means the deal will close! What is next with Clearwire? I think Dish will double down on Clearwire. 3 Quote Link to comment Share on other sites More sharing options...
irwinshere Posted June 11, 2013 Share Posted June 11, 2013 But what could dish actually do to clearwire? Sprint will soon own 68 percent anyway. Sent from my MB855 using Tapatalk 2 Quote Link to comment Share on other sites More sharing options...
ChadBroChillz Posted June 11, 2013 Share Posted June 11, 2013 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. 1 Quote Link to comment Share on other sites More sharing options...
juant87 Posted June 11, 2013 Share Posted June 11, 2013 (edited) 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 June 11, 2013 by juant87 Quote Link to comment Share on other sites More sharing options...
DaQue Posted June 11, 2013 Share Posted June 11, 2013 Has the judge ruled if they can vote Wednesday yet? Quote June 7By MARK DAVIS The Kansas City StarA 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. ... Quote Link to comment Share on other sites More sharing options...
RCM Posted June 11, 2013 Share Posted June 11, 2013 Sprint's press release states the vote has been moved to June 25 Quote Link to comment Share on other sites More sharing options...
ChadBroChillz Posted June 11, 2013 Share Posted June 11, 2013 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. Quote Link to comment Share on other sites More sharing options...
JeffDTD Posted June 11, 2013 Share Posted June 11, 2013 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. Quote Link to comment Share on other sites More sharing options...
Romeo Posted June 11, 2013 Share Posted June 11, 2013 Softbank has raised their bid to 21.6 billion http://m.cnet.com/news/softbank-ups-sprint-offer-to-$216b/57588639 Quote Link to comment Share on other sites More sharing options...
DaQue Posted June 11, 2013 Share Posted June 11, 2013 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. Quote Link to comment Share on other sites More sharing options...
thewezgrays Posted June 11, 2013 Share Posted June 11, 2013 (edited) 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 June 11, 2013 by WiWavelength merged from another thread Quote Link to comment Share on other sites More sharing options...
ChadBroChillz Posted June 11, 2013 Share Posted June 11, 2013 Well, Looks like Paulson is happy with the deal according to Ny Times. http://dealbook.nytimes.com/2013/06/10/softbank-raises-bid-for-sprint-to-21-6-billion/ Also, the article mentions that Dish's best and final offer must be financed. Cheapie Charlie is not going to like that. 5 Quote Link to comment Share on other sites More sharing options...
Fraydog Posted June 11, 2013 Share Posted June 11, 2013 2 Quote Link to comment Share on other sites More sharing options...
scubajwd Posted June 11, 2013 Share Posted June 11, 2013 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 2 Quote Link to comment Share on other sites More sharing options...
DaQue Posted June 11, 2013 Share Posted June 11, 2013 I just want it over and done. June 25th now... We'll see if its done then or not. 1 Quote Link to comment Share on other sites More sharing options...
kckid Posted June 11, 2013 Author Share Posted June 11, 2013 Softbank ups bid for Sprint to $21.6 billion. http://www.cnbc.com/id/100804702 Quote Link to comment Share on other sites More sharing options...
Conan Kudo Posted June 11, 2013 Share Posted June 11, 2013 Softbank ups bid for Sprint to $21.6 billion. http://www.cnbc.com/id/100804702 And it does so by taking away over $3 billion of investment for Network Vision. Not incredibly happy about that... 1 Quote Link to comment Share on other sites More sharing options...
Deval Posted June 11, 2013 Share Posted June 11, 2013 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? Quote Link to comment Share on other sites More sharing options...
marioc21 Posted June 11, 2013 Share Posted June 11, 2013 And it does so by taking away over $3 billion of investment for Network Vision. Not incredibly happy about that... How do you figure that? Quote Link to comment Share on other sites More sharing options...
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