Softbank and Sprint issued a statement late Monday announcing changes to the merger agreement awaiting shareholders’ approval. The new deal increases the amount of cash that would go to stockholders by reallocating funds that had been earmarked for direct investment in Sprint. SoftBank will acquire shares from current Sprint shareholders for $7.65, up from the $7.30 per share provided in the original merger agreement.
The amended agreement has won the unanimous approval of Sprint’s special committee and its board of directors.
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Sprint Leans Toward Sweeter Softbank Offer
Posted by: Rachelle Dragani June 11, 2013 05:00 AMSoftbank and Sprint issued a statement late Monday announcing changes to the merger agreement awaiting shareholders’ approval. The new deal increases the amount of cash that would go to stockholders by reallocating funds that had been earmarked for direct investment in Sprint. SoftBank will acquire shares from current Sprint shareholders for $7.65, up from the $7.30 per share provided in the original merger agreement.
The amended agreement has won the unanimous approval of Sprint’s special committee and its board of directors.