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.
Sprint Hangs Up on Dan Hesse, Names New CEO
Sprint today announced it has named Marcelo Claure as President and CEO of the company, who replaces Dan Hesse. Claure already served on Sprint's board of directors, and is the Founder and CEO of Brightstar Corp.
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.
AT&T to Buy DirecTV for $48.5 Billion
AT&T has entered into an agreement to purchase DirecTV for about $48.5 billion in a cash and stock transaction. The acquisition is more about providing AT&T with the means to grow its subscription TV business than about expanding mobile services.
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