SoftBank sweetens Sprint acquisition bid as shareholder vote is postponed


SoftBank is reaching deeper into its pockets to increase its bid for third-place US carrier Sprint, raising the stakes to $ 21.6 billion in cash and stock. The bump is coming in the form of extra cash — $ 4.5 billion worth — but the nominal total still remains lower than Dish’s $ 25.5 billion bid. SoftBank CEO Masayoshi Son had previously been adamant that even though Dish is offering a higher figure, his company’s bid offers a better value for shareholders, calling Dish’s bid “incomplete and illusory.” A shareholder vote on SoftBank’s proposal had been planned for Wednesday, but Sprint’s board has since pushed it back to June 25th.

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