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Softbank Corp Announces Strategic Acquisition Of Sprint Nextel Corp


Monday, 15 Oct 2012 07:21am EDT 

Softbank Corp and Sprint Nextel Corporation (Sprint) announced that they have entered into a series of definitive agreements under which SOFTBANK will invest approximately USD 20.1 billion (approximately JPY 1 trillion 570.9 billion) in Sprint, consisting of approximately USD 12.1 billion (approximately JPY 946.9 billion) to be paid to Sprint shareholders and USD 8.0 billion (approximately JPY 624.0 billion) of new capital to be used, amongst other purposes, to strengthen Sprint’s balance sheet. The companies expect the closing of the transaction to occur in mid-2013. As a result of the transaction SOFTBANK will own approximately 70% of the fully-diluted shares of New Sprint which will own 100% of the shares of Sprint. 

Company Quote

6.25
-0.09 -1.42%
1 Oct 2014