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Sprint and Softbank are officially approved to merge by Sprint shareholders, the companies announced this morning. According to Sprint, approximately 98 percent of shareholders at today’s meeting voted to approve the deal, which represents “approximately 80 percent of Sprint’s outstanding common stock” as of this late April 2013. Of course, the United States Federal Trade Commission still needs to sign off, though the companies are expecting it to go through FTC approval unscathed by some point in July.
Shareholders are expected to receive approximately $7.65 per share (or an option to convert their current Sprint stock holdings to “New Sprint common stock”), part of a $16.64 billion pie.
Developing …
Filed under: Mobile, Sprint
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Source: Sprint