Corporate
Oct. 17, 2012
Sprint Nextel sells majority for record $20.1 billion
Softbank Corp. agreed to purchase 70 percent of Sprint Nextel Corp. for $20.1 billion, the largest-ever foreign acquisition by a Japanese company.
Daily Journal Staff Writer
Tokyo-based wireless company Softbank Corp. dialed up a deal of historic proportions - and unique structure - Monday, announcing it's purchasing 70 percent of No. 3 U.S. mobile carrier Sprint Nextel Corp. for a whopping $20.1 billion.
The deal, the largest-ever foreign acquisition by a Japanese company, according to Morrison & Foerster LLP, Softbank's primary counsel, will see Overland,...
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