SoftBank to Acquire Sprint Nextel, CEO Boasts Big Plans

SoftBank Corp. is expected to take over Sprint Nextel in a $21.6 billion deal, while separately, Sprint raised its Clearwire offer to $5 a share, beating a rival bid from Dish Network. Masayoshi Son — chairman and chief executive officer of SoftBank, who founded the company in 1981 — told shareholders at an annual meeting in Tokyo on Friday that he plans on SoftBank becoming “the world’s biggest company.” Sprint shareholders are scheduled to vote on the takeover tomorrow. Continue reading SoftBank to Acquire Sprint Nextel, CEO Boasts Big Plans

Dish Network Opts Not to Submit New Bid for Sprint Nextel

Sprint Nextel, the third largest U.S. wireless carrier, accepted a $21.6 billion bid last week from Japan’s SoftBank and gave Dish Network a Tuesday deadline to make a best and final offer. However, Dish said it would not submit a new offer by the deadline, which clears the way for a Sprint acquisition by SoftBank. Dish has shifted its focus to purchasing a large stake in Clearwire Communications, but now faces a lawsuit filed by Sprint to block the offer. Continue reading Dish Network Opts Not to Submit New Bid for Sprint Nextel

Dish Pursues Clearwire: Could Complicate Sprint Nextel Plans

Dish Network is reportedly making a play for shares of Clearwire Corp., which could complicate a planned purchase of the broadband company by Sprint Nextel. In an effort to better compete in the U.S. wireless market, Sprint had agreed to purchase the roughly 50 percent of Clearwire that it does not already own. Additionally, Sprint agreed to a $20 billion acquisition by Japan’s SoftBank Corp. However, Dish also made a $25.5 billion offer to acquire Sprint.  Continue reading Dish Pursues Clearwire: Could Complicate Sprint Nextel Plans

Dish Goes Up Against SoftBank to Purchase Sprint Nextel

Dish Network has received signed commitment letters from five banks, according to people familiar with the matter, bringing it closer to arranging $9 billion in committed financing for a planned $25.5 billion acquisition bid for Sprint Nextel. Dish has raised nearly $12 billion for the deal, which will compete with October’s $20.1 billion offer by SoftBank to acquire 70 percent of Sprint. The financing arrives a few days after Sprint agreed to enter into negotiations with Dish. Continue reading Dish Goes Up Against SoftBank to Purchase Sprint Nextel

Dish Network Submits $25.5 Billion Bid for Sprint Nextel

Pay TV operator Dish Network announced yesterday that it has placed a $25.5 billion bid for wireless carrier Sprint Nextel, which is presently ranked third in the U.S. behind Verizon Wireless and AT&T. Dish Network’s chairman and former CEO Charlie Ergen is hoping to bridge the gap of current wireless models by offering customers faster and more affordable television, high-speed Internet and cellphone services in a single package. Continue reading Dish Network Submits $25.5 Billion Bid for Sprint Nextel

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