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Sprint shareholders "overwhelmingly" approve SoftBank merger

Posted: , by Michael H.

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Sprint shareholders
After DISH dropped out of the running recently, this was essentially just a formality, but it has been completed anyway. Sprint's shareholders met and voted on the proposed SoftBank merger and have "overwhelmingly" approved the deal. SoftBank had recently increased its offer to $21.6 billion in cash and stock in an effort to stave off the DISH offer. Sprint has announced that the deal will go through, with SoftBank purchasing 80% Sprint's outstanding common stock rather than the reported 70%. Of the total offer, $16.64 billion will be delivered to Sprint stockholders. 

Sprint CEO Dan Hesse said of the merger:
Today is a historic day for our company, and I want to thank our shareholders for approving this transformative merger agreement. The transaction with SoftBank should enhance Sprint’s long-term value and competitive position by creating a company with greater financial flexibility.

The deal still needs to be approved by the FCC, but Sprint expects it to be finalized by early next month.

source: Sprint

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posted on 25 Jun 2013, 11:08

1. Daftama (Posts: 619; Member since: 03 Nov 2012)

Now let's wait another 3yrs before change happens

posted on 25 Jun 2013, 11:09 4

2. gd761 (Posts: 152; Member since: 18 Sep 2012)

Now hopefully Sprint Will be Turning On MORE LTE SITES EVERYWHERE! Also, hopefully Sprint can see about treating "US" Customers to some High Quality High End LTE Windows Phones on their NEW TD-LTE Network Very Soon.

posted on 25 Jun 2013, 12:26

7. Libra1985 (Posts: 47; Member since: 26 Feb 2011)

Hopefully that'll come about sooner than later with the cash infusion they will receive.

posted on 25 Jun 2013, 11:12

3. ajac09 (Posts: 1482; Member since: 30 Sep 2009)

Now I may think about returning to sprint. Though been eye balling all the verizon deals on amazon lately..

posted on 25 Jun 2013, 11:34

4. Doakie (Posts: 2227; Member since: 06 May 2009)

I wish they would just name the new company Softbank because the name Sprint has a negative connotation after all these years of not providing good service. I've been with them for 12 years because they're great priced. But honestly they are hardly competitive these days. They just flipped the switch on more LTE towers here in Seattle yesterday but I still spend 80% of my time on their 3G network going 100 Kbps...

posted on 25 Jun 2013, 12:06

5. CfullerTX (Posts: 19; Member since: 06 Aug 2012)

Sprint is flipping on towers as they install. Would you rather they wait and flip them all at once a year from now?!? It's asinine to expect instant blanket coverage...

posted on 25 Jun 2013, 15:48

9. JEverettnow (Posts: 228; Member since: 11 Mar 2013)

Yeah, but to spend 2 years slowly installing them is funny. Talking to a tower tech they said all the lte cabinets have been sitting in a warehouse for over a year. All they were waiting for was the go ahead from sprint to install them. Also, I am sure Sprint throttles their 3G as my area used to be at 1.5mbps download and then i woke up one morning and it was at 2-300kbps and that is where it has been for 6 months now.

posted on 25 Jun 2013, 15:48

10. JEverettnow (Posts: 228; Member since: 11 Mar 2013)

LTE Cabinets for our area have been sitting in a warehouse*

posted on 25 Jun 2013, 12:25 1

6. Libra1985 (Posts: 47; Member since: 26 Feb 2011)

Next Clearwire?

posted on 25 Jun 2013, 15:09 2

8. Mxyzptlk (unregistered)

This deal will be a great benefit for Sprint. I vote that the deal be cleared.

posted on 25 Jun 2013, 17:35 1

11. XPERIA-KNIGHT (unregistered)

Did this guy actually say something positive? Wow lol

posted on 26 Jun 2013, 15:46

12. CEMIII (Posts: 110; Member since: 26 Jun 2013)

We shall see what is what. At 80% Sprint's unlimited may fall to the wayside. Softbank will be pulling all the strings now. Better Phones & service
Here's to looking up

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