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Sprint (S +0.9%) shareholders have approved the company's merger with SoftBank (SFTBF.PK); a...

Sprint (S +0.9%) shareholders have approved the company's merger with SoftBank (SFTBF.PK); a company spokesman says 80% of outstanding shares (and 98% of votes cast) were voted in favor of the deal. SoftBank's revised deal gives the Japanese carrier a 78% stake in Sprint, and existing investors $5.50/share in cash to go with some equity.
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Comments (7)
  • BigAppleGuy
    , contributor
    Comments (154) | Send Message
     
    all my forms say $7.65 a share
    25 Jun 2013, 11:58 AM Reply Like
  • Jeb1517
    , contributor
    Comments (58) | Send Message
     
    Why the stock hasn't jumped to $7.65 is beyond me.
    25 Jun 2013, 12:39 PM Reply Like
  • milehr
    , contributor
    Comments (510) | Send Message
     
    Pending CLWR vote.
    25 Jun 2013, 01:15 PM Reply Like
  • SMedic
    , contributor
    Comments (3) | Send Message
     
    I just received in the mail yesterday the "Sprint Form of Election" in which notified all shareholders if they elected a cash distribution they would receive "$7.65 in cash without interest (an election to receive such cash, a Cash election). I don't understand this revised amount.
    25 Jun 2013, 01:57 PM Reply Like
  • jfarb
    , contributor
    Comments (7) | Send Message
     
    What is the advantage of electing for $5.50 of new sprint shares vs.

     

    7.65 cash for current shares?
    26 Jun 2013, 01:13 AM Reply Like
  • Jeb1517
    , contributor
    Comments (58) | Send Message
     
    You can't choose $5.50. It's either $7.65 or one share in the New Sprint for every share owned at the time of the deal closing. I'm not sure what the market current is referring to. But everyone can't get the $7.65. If the cash option is oversubscribed, some people will be issued new shares anyway, and if the new shares are oversubscribed, some people will get cash. Some people may get a combination of the two. The date to submit your election is July 5th but cash is the default election so if that's what you want, you don't have to do anything. If you own your shares through a broker, the deadline may be earlier, July 2nd for example.
    26 Jun 2013, 09:10 AM Reply Like
  • jfarb
    , contributor
    Comments (7) | Send Message
     
    Thanks Jeb
    26 Jun 2013, 10:58 PM Reply Like
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