Softbank to Acquire 70% Share of Sprint for 20.1 Billion USD

It’s official, the Japanese company Softbank is acquiring 70% of Sprint for $20.1 Billion USD. Softbank will pay 12.1 billion for existing shares and another 8 billion dollars for new shares that Sprint will be issuing. Sprint stands to net about 3 Billion from the buyout, and shares for Sprint have already increased $0.35 to $2.67 in anticipation of the acquisition. It looks like a win-win for current shareholders and Sprint customers, as Sprint will likely be reinvesting part of the money to acquire more share of Clearwire – a 4G wireless internet company. Sprint already owns 48.1% share of Clearwire – the largest share.

 

 

 

Source:
http://www.reuters.com/article/2012/10/15/us-sprint-softbank-idUSBRE89A0I520121015

http://webcast.softbank.co.jp/en/pdf/20121015_01/20121015_01.pdf 

Shane Paris

​Shane is the founder and Technical Editor-in-Chief here at That's It Guys. He enjoys Star Trek, 80s and 90s action movies, and everything tech related. Shane is highly skilled with computer hardware, software, and electronics.