The Sprint Nextel finally offered its stock shares to Japan's SoftBank, a popular Japanese Telecommunication Company for $20.1 billion. This deal has been approved by both companies Boards of Directors and yet to be approved by the Regulators and Sprint shareholders. It is said by the company that the transaction of Sprint-SoftBank deal is expected in Middle of 2013. During this deal, Sprint is also looking to get the control of Clearwire company which is a Wireless Broadband Company.
After this deal finalization, the Sprint will stands with its competitors like Verizon Wireless and AT&T.
The Financial Advisers of SoftBank are "The Raine Group and Mizuho Securities". The other participants of the deal are:
- Morrison & Foerster as lead counsel
- Mori Hamada & Matsumoto as Japanese counsel
- Dow Lohnes as regulatory counsel
- Potter Anderson Corroon LLP as Delaware counsel
- Foulston & Siefkin LLP as Kansas counsel
- Skadden, Arps, Slate, Meagher & Flom are lead counsel
- Lawler, Metzger, Keeney & Logan served as regulatory counsel
- Polsinelli Shughart served as Kansas counsel
