DISH Makes offer to buy Sprint (Rescinded)

[Patrick Smith]

SoftBank Ups it's bid by 1.5 billion

www.bloomberg.com/news/2013-06-11/softbank-raises-sprint-offer-to-21-6-billion-to-counter-dish.html

 

[GaryPen]

As I read, honestly, thing's are going Charlie's way.

Maybe.

SoftBank Ups it's bid by 1.5 billion

Maybe not.

 

[navychop]

Maybe Charlie should pull out and let SoftBank go bankrupt (yen:dollar ratio) and later get Sprint for less.


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[Poke]

Just two days before Sprint stockholder vote, Dish is still doing due diligence

http://www.phonearena.com/news/Just...ote-Dish-is-still-doing-due-diligence_id43927

 

[sparc]

Just two days before Sprint stockholder vote, Dish is still doing due diligence

http://www.phonearena.com/news/Just...ote-Dish-is-still-doing-due-diligence_id43927

old article since Softbank just sweetened their offer. Sprint gave a new deadline to dish of June 18th with the Sprint shareholder vote on June 25th.

It looks like we may know in a week how this all ends up (and what Ergen is trying to do).

 

[nelson61]

Softbank bumps offer $1.5 billion. http://www.reuters.com/article/2013/06/11/us-softbank-sprint-idUSBRE95A0CB20130611

 

[whitewolf8214]

Dealpolitik: Dish Losing the Sprint for SoftBank http://blogs.wsj.com/moneybeat/2013...-losing-the-sprint-for-softbank/?mod=yahoo_hs It's Your Move Charlie Ergen http://www.bloomberg.com/video/it-s-your-move-charlie-ergen-98Zy9gR_R2GABJco97hPWA.html?cmpid=yhoo June 11 (Bloomberg) -- After SoftBank raised its offer for Sprint to $21.6 billion last night, the spotlight returns to Ergen, the Dish Network chairman who made an unsuccessful $25.5 billion counterbid in April. Glass Lewis Managing Director Warren Chen speaks with Erik Schatzker on Bloomberg Television's "Market Makers." (Source: Bloomberg) SoftBank raises Sprint offer, wins key shareholder support Reuters – 40 mins ago http://news.yahoo.com/softbank-raises-sprint-offer-wins-key-shareholder-support-101512478.html

 

[Yespage]

Why was Dish's bid "unsuccessful"? Hasn't been voted on... neither has the Softbank deal.

 

[Tyralak]

Why was Dish's bid "unsuccessful"? Hasn't been voted on... neither has the Softbank deal.

Sounds like someone's been running the spin cycle on high. Jumping the gun at the very least.

 

[Scott Greczkowski]

I am hearing now that the hold up with DISH is Sprint wants a 3 Billion dollar breakup fee from DISH if the sale is not approved by regulators, and DISH only is offering 1 Billion for the breakup fee.

 

[sparc]

Why was Dish's bid "unsuccessful"? Hasn't been voted on... neither has the Softbank deal.

it's currently unsuccessful. There's no vote scheduled for whatever Dish offered. Dish has a lot of work to do in terms of getting a real offer on the table before shareholders vote and take the Softbank deal.

I was hearing this morning that a Dish-Sprint deal might cost a year or more of waiting for uncertain regulatory approval. Softbank's deal would close in a month.

I don't blame Sprint for wanting a huge breakup fee. Waiting another year to year and a half for government approval is very costly to them (in the event the deal doesn't close). AT&T/T-mobile had a massive breakup fee too.

 

[sparc]

http://www.bloomberg.com/news/2013-...to-falter-in-part-over-breakup-fee-issue.html

article about the breakup fee and the other issues. selected some quotes:

Sprint Nextel Corp. (S) demanded a $3 billion reverse breakup fee from Dish Network Corp. (DISH) during their merger talks, one of a series of disagreements that has kept them from reaching a deal, people familiar with the matter said.

Dish’s failure to show committed financing and to make a definitive merger proposal concerned Sprint, according to a person familiar with the negotiations. Dish, on the other hand, was frustrated by what it perceived as Sprint’s slowness to deliver documents necessary to conduct due diligence and complete an offer, other people said.

 

[whitewolf8214]

Dish’s Sprint Response
Dish Network (NASDAQ: DISH): Following a raised bid for Sprint (NYSE:S) from Japanese firm Softbank, Dish issued a statement simply saying: “We continue to believe that Sprint has tremendous value. We will analyze the revised SoftBank bid as we consider our strategic options.” The new offer increases the cash given to Sprint investors to $5.50 per share from $4.02 per share, raises SoftBank’s offer price for investor shares to $7.65 from $7.30, and raises the price of SoftBank’s $1.9 billion investment in Sprint to $6.25 per share from $5.25 per share.

 

[Patrick Smith]

Sprint ends talks with dish

Http://mobile.theverge.com/2013/6/11/4420520/sprint-reportedly-breaks-off-merger-talks-with-dish

 

[navychop]

That's Sprint mgmt. Don't shareholders still get to vote?



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[Patrick Smith]

That's Sprint mgmt. Don't shareholders still get to vote?



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They can vote yes or no on SoftBank but if sprint rejects dishes offer then they have no say on that. They only vote if sprint accepts the offer.

 

[Hall]

I believe that the board still chooses what items are to be voted on.

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[Teehar]

maybe Charlie can bid for Tracfone.

 

[GaryPen]

Sprint ends talks with dish

Http://mobile.theverge.com/2013/6/11/4420520/sprint-reportedly-breaks-off-merger-talks-with-dish

And the trombone plays....Mwah mwahhhhhhhhhhhhhhhhhhhhh.

 

[Hall]

What is the point of this breakup penalty ($1-3 million)? If outside parties, i.e. the government, deny the plan, the suitor has to pay?

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