Sprint shareholders to vote June 12 on SoftBank’s $20.1 billion bid
04/26/2013 6:04 PM
05/20/2014 10:43 AM
Sprint Nextel Corp. said it tentatively set June 12 as the date for a shareholder vote on SoftBank Corp.’s takeover offer.
The date is pending approval of the Securities and Exchange Commission’s approval of Sprint’s proxy filing, said Scott Sloat, a Sprint spokesman.
Last fall, Japan’s SoftBank offer $20.1 billion for70 percent of the Overland Park-based wireless company. But earlier this month, Dish Network came through with a $25.5 billion offer. While Sprint has formed a board committee to review the proposal, it has largely remained silent on the Dish bid.
In addition, Sprint is trying to complete a transaction to purchase the remaining 49 percent of Clearwire Corp. that it doesn’t already own. Clearwire shareholders are scheduled to vote on the Sprint offer on May 21.