On July 11, 2013, Softbank (OTCPK:SFTBY) completed the acquisition of just over 78% of Sprint Corporation's (S) shares (paying about $7.04/share, including the expected exercise and cost of 55mn in warrants at $5.25). Shares of Sprint closed at $6.28 on that day and are currently trading only slightly above that level (closing Tuesday at $6.29/share). Over the same period, the S&P 500 index has also remained broadly flat.
Subsequent to the initial share acquisition, Softbank added to its position in Sprint by buying approximately 75 million additional shares at approximately $6.69/share between August 1st and September 16th of this year (taking their total ownership to over 80%).
Given that the market,...
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