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SoftBank hikes bid for Sprint to $21.6 billion

Stephen Lawson | June 11, 2013
SoftBank amended its offer to give shareholders more cash, while Sprint said it had ended talks with rival bidder Dish

The modified SoftBank bid would leave the Japanese company with 78 percent of Sprint's stock and current shareholders 22 percent, versus the 70:30 split in the previous deal. Also under the amended offer, Sprint's termination fee to SoftBank if the deal doesn't go through could rise from $600 million to $800 million in certain circumstances, the press release said.

 

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