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Softbank Gives Sprint Permission to Talk to Dish

Apr 29, 2013, 7:22 AM by Eric M. Zeman

Sprint today indicated that Softbank has made several exceptions to the merger agreement between the two companies that will allow Sprint to sign a non-disclosure agreement with Dish. Sprint formed a Special Action Committee earlier this month to evaluate Dish's proposed acquisition of Sprint for $25.5 billion. Sprint is holding separate discussions with Softbank, which is itself in the process of acquiring a 70% equity stake in Sprint. Softbank had to make exceptions to the legal documents already in place. As such, Sprint is not allowed to share non-public information with Dish, meaning Dish cannot look at Sprint's financials beyond its public quarterly and annual statements. Sprint is also not allowed to enter into any sort of negotiations with Dish regarding its offer. Sprint may only talk to Dish in order to get more information from the company concerning its proposal. Sprint said this will be the only time its Special Action Committee makes any sort of comment until after it has fully evaluated Dish's offer. It did not indicate how long the process might take.

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This forum is closed.

WhySoBluePandaBear

Apr 30, 2013, 3:33 AM

Considering Dish is one of thee worst companies to work for...

I hope Sprint realizes that 5 billion dollars isn't worth being taken over by an idiot-run company.

Go with the Japanese - they have brains and actual integrity when it comes to running a business. Think of the company Sprint will be with Softbank - actually capable of competing with the big two.

Or, by all means, if you feel like repeating another Nextel disaster, allow Dish to continue.....

Haggard

It'd be one smooth transition then, amirite? 😛

...

T Bone

And yet despite whatever problems they might be having...Dish is still making a profit....which is something that can't be said for Sprint.....so....Dish may be a company of idiots, but apparently they are smarter idiots than the ones currently runnin...
(continues)

KOL4420

Apr 29, 2013, 1:05 PM

Today on True life: Sprint

haha. Sorry I had to its getting real on Sprints end. I am totally in Geek mode about this situation. xD. Dish or Softbank? I vote Softbank for personal reasons.

Tofuchong

I think they should talk to Dish, but I think all dish will do is plate their concerns.

🤣

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