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Softbank Corp Raises Sprint Nextel Corp Offer-Business Standard


Tuesday, 11 Jun 2013 02:45pm EDT 

Business Standard reported that Softbank Corp said it agreed to raise its offer for U.S. wireless carrier Sprint Nextel Corp to $21.6 billion from $20.1 billion as it fights off a counter bid by Dish Network Corp. The Japanese firm, led by billionaire founder Masayoshi Son, will end up with 78% of Sprint, compared with 70% in its previous bid, the companies said in a statement. The deal includes $16.6 billion cash for Sprint shareholders, $3.1 billion of Sprint debt already bought by SoftBank, and a $1.9 billion direct investment in Sprint. 

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