SoftBank Doesn't Expect to Raise Sprint (S) Bid, But Door Not Closed (DISH)
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With Dish Networks (Nasdaq: DISH) making a $25.5 billion informal offer for Sprint (NYSE: S) earlier in the week, some wondered whether Japan's SoftBank would counter the effort.
According to reports out Friday, the answer is "no," but future action hasn't been ruled out either.
Late last year, SoftBank offered $20.1 billion for 70 percent of Sprint, which valued the company at $28.7 billion at the time. Though it might seem like the better deal, means of executive the deal (more cash versus debt, or vice versa) also plays a key role in determining which offer is superior.
SoftBank said its bid for Sprint was superior, given the Dish's offer is "highly conditional." The company affirmed that it planned on completing the deal by July 1st.
Dish is offering $4.76 per Sprint share in cash, as well as 0.05953 shares of Dish common stock. Analysts suspect that SoftBank would need to boost the cash portion of its offer in order to meet what Dish has put up.
Shares of Sprint are lower early.
According to reports out Friday, the answer is "no," but future action hasn't been ruled out either.
Late last year, SoftBank offered $20.1 billion for 70 percent of Sprint, which valued the company at $28.7 billion at the time. Though it might seem like the better deal, means of executive the deal (more cash versus debt, or vice versa) also plays a key role in determining which offer is superior.
SoftBank said its bid for Sprint was superior, given the Dish's offer is "highly conditional." The company affirmed that it planned on completing the deal by July 1st.
Dish is offering $4.76 per Sprint share in cash, as well as 0.05953 shares of Dish common stock. Analysts suspect that SoftBank would need to boost the cash portion of its offer in order to meet what Dish has put up.
Shares of Sprint are lower early.
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