The boards of both companies have approved the deal, but it is still pending approval from Sprint shareholders and U.S. regulators. Softbank expects the deal to be completed by mid-2013.
Sprint is the third-largest U.S. wireless carrier. The company has struggled in recent years, even despite the addition of Apple's iPhone to its offerings last year.
The deal marks the largest foreign acquisition by a Japanese company.
Microsoft (MSFT) is trending as the company announced the launch of Xbox Music. Xbox Music will be a streaming service with a catalog of about 30 million songs. Users will be able to listen to any song for free on devices running the latest version of Windows, as well as the Xbox console. The new music service is available in a free, ad-supported version on Windows 8 devices, a $10 subscription ad-free version on Windows 8 devices plus the Xbox 360 and Windows Phone 8, and a digital download store. Xbox Music will solely be available on Microsoft platforms for now, but the company said it will hit Android and iOS soon after. Xbox Music will start appearing on the Xbox when Microsoft begins updating its software over the Internet on Tuesday. It will also be featured on Windows 8 when the operating system is launched on Oct. 26. Microsoft has sold more than 67 million Xbox consoles to date.
CNH Global (CNH) is another popular search. The farm and construction equipment maker rejected a $1.1 billion buyout offer from Fiat Industrial. Fiat already owns 88% of CNH and had been seeking to purchase the remaining stake. Fiat proposed on May 30 that the companies combine to create the world's third-largest capital-goods company through a share exchange with no premium for CNH shareholders.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV