An amazing ninety eight % of voters welcome the care for the Eastern service
The continuing saga of the combat for Dash’s hand in marriage is coming to an in depth, with a single suitor eventually in a position to shut the deal. These days, Dash shareholders voted in an awesome majority to approve the merger between Dash and Jap service Softbank. 98 percent of voters were in favor of the deal, representing 80 percent of the outstanding common stock.
Talks of a significant investment from Softbank were initially confirmed by Sprint in October of last year. This was followed by a slightly larger offer from competing investor Dish Network in April of 2013. After the recent decision by Dish not to invest in Sprint, but instead only focus on a separate offer for Clearwire, Softbank emerged as the victor. Sprint believes this marriage with Softbank “should enhance Sprint’s long-term value and competitive position by creating a company with greater financial flexibility.”
Sprint stockholders will have the option to chose between $ 7.65 or one common stock for each Sprint stock they own. The total cash amount for stockholders totals $ 16.64 billion. After the deal, “New Sprint” will have a 22 percent stake in the company, with Softbank controlling the remaining 78 percent. Final FCC approval is expected as early as next month.
The complete press release can be found at the source link below.