Sprint (NYSE:S) today announced that it had filed an investor presentation outlining its amended merger agreement with SoftBank Corp. (TSE: 9984) (“SoftBank”), which provides investors with additional cash consideration of $4.5 billion at closing.
The presentation, which can be found at: http://www.sec.gov, outlines the significant value provided to Sprint stockholders through the transaction and additional details on the due diligence process undertaken by the Special Committee of Sprint’s Board on the preliminary proposal submitted by DISH Network Corporation (“DISH”). The presentation also highlights the following aspects of the amended merger agreement:
- Revised offer maximizes value and certainty for Sprint stockholders
- Sprint + SoftBank positions New Sprint better than ever before vis-à-vis key competitors in the market
- Sprint stockholders will own approximately 22% of New Sprint, providing stockholders an opportunity to participate in the upside created by a better capitalized and more capable New Sprint
- Special Committee and Sprint Board unanimously recommend FOR improved SoftBank transaction and determine DISH proposal not reasonably likely to lead to a superior offer
Supplemental proxy materials will be filed with the SEC and distributed to stockholders in the near future and such materials and an election form will also be distributed to stockholders in the near future.
About Sprint NextelSprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel served more than 55 million customers at the end of the first quarter of 2013 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. The American Customer Satisfaction Index rated Sprint as the most improved company in customer satisfaction, across all 47 industries, during the last five years. Newsweek ranked Sprint No. 3 in both its 2011 and 2012 Green Rankings, listing it as one of the nation’s greenest companies, the highest of any telecommunications company. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint. Cautionary Statement Regarding Forward Looking Statements This document includes “forward-looking statements” within the meaning of the securities laws. The words “may,” “could,” “should,” “estimate,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “target,” “plan,” “providing guidance” and similar expressions are intended to identify information that is not historical in nature.
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