Sprint (S), SoftBank Call on FCC to Push Deal Through
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Top Sprint (NYSE: S) and SoftBank brass are calling on regulators to push the companies proposed merger deal through.
According to a filing with the Federal Communications Commission (FCC), Sprint CEO Dan Hesse and SoftBank chief Masayoshi Son asked FCC chairwoman Mignon Clyburn to approve a deal for SoftBank to purchase 70 percent of Sprint. The request was made during a June 12th telephone conversation, according to the filing.
The complete filing can be viewed here.
On June 11th, SoftBank and Sprint amended a pending merger agreement, with SoftBank willing to put up more cash. Under the amended Merger Agreement, SoftBank will deliver an additional $4.5 billion of cash to Sprint stockholders at closing, bringing the total cash consideration available to Sprint stockholders to $16.64 billion.
Shares of Sprint are modestly higher Friday.
According to a filing with the Federal Communications Commission (FCC), Sprint CEO Dan Hesse and SoftBank chief Masayoshi Son asked FCC chairwoman Mignon Clyburn to approve a deal for SoftBank to purchase 70 percent of Sprint. The request was made during a June 12th telephone conversation, according to the filing.
The complete filing can be viewed here.
On June 11th, SoftBank and Sprint amended a pending merger agreement, with SoftBank willing to put up more cash. Under the amended Merger Agreement, SoftBank will deliver an additional $4.5 billion of cash to Sprint stockholders at closing, bringing the total cash consideration available to Sprint stockholders to $16.64 billion.
Shares of Sprint are modestly higher Friday.
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