Sprint Receives Regulatory Go-Ahead for iPCS Acquisition
The Federal Communications Commission has given its approval to Sprint's intended acquisition of affiliate iPCS. Sprint announced its intent to acquire iPCS several weeks ago for the price of $24 per share. iPCS's board of directors has recommended that all shareholders approve the tender offer, which expires tonight. Greywolf Capital Management, which owns about 8% of iPCS shares, thinks the $24-per-share price offered by Sprint to buy iPCS is too low and said it won't approve the sale.
Qualcomm Rejects Broadcom's Latest Acquisition Offer, But Leaves Door Open
Qualcomm's board of directors today unanimously rejected Broadcom's revised bid to acquire the company for $121 billion. Qualcomm's board continues to insist that Broadcom is undervaluing Qualcomm's overall worth.
SoftBank Sinks More Money Into Sprint
SoftBank has been snapping up shares of Sprint, increasing its stake recently by as much as $87 million. Despite SoftBank CEO Masayoshi Son's misgivings about the overall acquisition of Sprint, SoftBank said it "is enthusiastic about Sprint's prospects.
Qualcomm Says It Met with Broadcom to Discuss Acquisition
Qualcomm today said members of its board of directors and senior management met with Broadcom to talk about the latter's acquisition offer. Broadcom offered to buy Qualcomm for $121 billion, but Qualcomm shot the deal down.
Japan's SoftBank to Buy UK's ARM for $32 Billion
SoftBank today announced plans to buy ARM Holdings for $32 billion. SoftBank runs one of Japan's largest wireless networks and is the parent company of Sprint in the U.S., while ARM designs and licenses the Cortex-branded mobile processors often found in today's smartphones and tablets.
Former IPCS tshareholders to sue Sprint...
over this announcement.
Joined by Verizon.
Thank the lord