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This was challenged in many lawsuits by Sprint PCS shareholders who felt their stock was devalued because it was trading at the ratio of 1 share of PCS stock for 1/2 share of FON stock. The PCS shareholders claimed a loss of 1.3 billion to 3.4 billion dollars. [50]
(FON stood for "Fiber Optic Network", which was Sprint's bragging right, but was also a homophone of the word "phone"). This was challenged in many lawsuits by Sprint PCS shareholders claiming the stock was devalued through the ratio of 1 share of PCS stock for 1/2 share of FON stock. Sprint agreed to settle with the shareholders for $57.5 million.
The new BCA gives an exchange ratio of 11.00 Sprint shares for each T-Mobile share, up from the original agreement of 9.75 Sprint shares. SoftBank, Sprint's owner, has agreed to surrender 48.8 million T-Mobile shares acquired in the merger to the New T-Mobile, making SoftBank's effective ratio of 11.31 shares per T-Mobile share.
The ongoing merger (or majority stake) saga at Sprint Nextel Corp. (NYSE: S) may finally be coming to a close. The analysts at Argus feel confident that the Softbank/Sprint merger has a reasonably ...
After 15 months of lobbying and negotiations, T-Mobile (NASDAQ:TMUS) and Sprint (NYSE:S) have finally secured both FCC and DoJ approval for their proposed merger. In response to the DoJ putting ...
Numbers can lie -- yet they're the best first step in determining whether a stock is a buy. In this series, we use some carefully chosen metrics to size up a stock's true value based on the ...
On December 17, 1999, TCI Satellite Entertainment Inc. (TSAT), based in Englewood, Colorado, announced that Liberty Media was trading its interest in Sprint PCS for $300 million in TCI Satellite preferred stock. A new company, ninety percent owned by Liberty Media and ten percent owned by TCI Satellite, would combine the satellite-related ...
With Sprint Nextel and Japanese mobile operator SoftBank postponing their merger deal's formal SEC filing date by three more weeks, speculation had risen even higher that the U.S.'s third-largest ...