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U.S. Morning Call: SoftBank ups stakes in Sprint bidding war

Tuesday, June 11, 2013 - 03:22

Jun 11 - Japan's SoftBank said it agreed with Sprint to raise its buyout offer to $21.6 billion, as it fights off a counter bid by Dish Network.

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Twenty billion now 21 to like you're 22 million. And the bidding music of the years of sprint shareholders at the top -- -- Tuesday morning call. Japan's Softbank raising its offer from twenty point one billion dollars to 21 point six billion. To -- 78%. Of sprint. Sprint shareholders liked it because it's higher than dish -- bit of 25 point five billion dollars for all of sprint. Sprint's second biggest shareholder hedge fund titan John Paulson is thought backside -- firms that it would vote all its shares in favor of the new bit. Paulson was behind shopper before -- replies did Charlie Ergen has until June 18 to come back with his best and final offer. The bidding war -- 25% jump in sprint shares this year this morning. -- op over 3% premarket. Topic -- -- roughly flat in trade on in the game. The eleventh document downward dog position dropping nearly 13% in the premarket after -- surprise move CEO Christine days. -- -- I'm brokerages so far slashing the price target on the stock this morning UBS the most dramatic taking number 172 dollars from nine. -- saying it was a personal decision and equip. All. But analysts are. Are pinning their departs his her departure and if you recall -- and see through pants. Grew up they could cost the company nearly forty million dollars this year. These legacy could be this chart over five years on the job the stock is up more than 400%. Over the same period -- and 500 stock index is up 21%. The company's growth seems unstoppable it also reported slightly better than expected first quarter profit this year. A couple more stocks to watch starting with FaceBook Mark Zuckerberg Sheryl Sandberg and company hosting its first ever annual shareholder meeting. With FaceBook thought to -- -- last year's IPO investors they voice their worries about the company's mobile business and it's slowing growth. The bonus we all get to watch drama unfold because the plans to webcast and besides you know could be environmental groups crashing in the face the power. Being with -- -- split lobbying group ran ads in support of lawmakers who favor the Keystone Pipeline. And take a look at shares of Dole Food they're up nearly 60% in premarket. David Murdock is moving and take the company private for one point five billion dollars. He owns about 40% of the twelve dollars per share offer represents a premium but 18% to -- Monday closing. Movie on the market let's take a look at futures at the Dow and NASDAQ all pointing to a lower open. Also gold hurting today sliding to a three week low. It's trading near thirteen 69 after the Bank of Japan opted to pause its stimulus program. And that's it -- Tuesday morning call remember defaults on Twitter Reuters Insider. Yet more great ideas that Reuters dot com slash what. I'm Fred and if it.

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U.S. Morning Call: SoftBank ups stakes in Sprint bidding war

Tuesday, June 11, 2013 - 03:22