Sprint (S) shareholders back Softbank's (SFTBF.PK) $21.6B offer to acquire 78% of the U.S....

Sprint (S) shareholders back Softbank's (SFTBF.PK) $21.6B offer to acquire 78% of the U.S. carrier, with investors representing 53% choosing to receive $5.65 in cash and 0.26174408 share of new Sprint for each existing share owned. Around 3% elected to receive just stock, while the 44% of shares that didn't vote will get cash. The companies expect to close the merger on Wednesday. Meanwhile, S&P has downgraded Softbank's debt by two notches into "junk" territory, citing the risks from its purchase of Sprint and the latter's proposed acquisition of Clearwire (CLWR). (PR)

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Comments (7)
  • tut666
    , contributor
    Comments (101) | Send Message
    Hard to believe some idiots elected for stock instead of waiting to buy leveraged back end.
    8 Jul 2013, 09:08 AM Reply Like
  • milehr
    , contributor
    Comments (682) | Send Message
    Leveraged back end? What is this?
    8 Jul 2013, 09:13 AM Reply Like
  • genomad
    , contributor
    Comments (165) | Send Message
    I don't know what he means by leveraged back end either....


    And I don't like being called an idiot. I opted for half of my shares to be converted into the new stock because I think the stock will be worth more money in a few years. Sprint has improved their financial position, and image over the years and soft bank will do what ever it takes to push this new stock higher.
    8 Jul 2013, 12:48 PM Reply Like
  • bjkaufman
    , contributor
    Comments (15) | Send Message
    Wonder if it would be better to sell all at market value?
    8 Jul 2013, 09:12 AM Reply Like
  • bjkaufman
    , contributor
    Comments (15) | Send Message
    Does that mean we'll get 0.26174408 shares of Softbank for each share of Sprint we own?
    8 Jul 2013, 10:13 AM Reply Like
  • Nurit64
    , contributor
    Comments (3) | Send Message
    Is S a sell now?
    8 Jul 2013, 10:14 AM Reply Like
  • jfarb
    , contributor
    Comments (8) | Send Message
    Better to sell now? What is the advantage of taking 5.65 and .2617448 for each share owned.? A current loss for a long term hope?
    8 Jul 2013, 10:12 PM Reply Like
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