Japanese mobile operator SoftBank Corp said it agreed to raise its offer for U.S. wireless carrier Sprint Nextel Corp to $21.6 billion from $20.1 billion as it fights off a counter bid by Dish Network Corp.SoftBank's sweetened offer won the backing of hedge fund Paulson & Co, Sprint's second-biggest shareholder, which had earlier supported the Dish bid. Paulson said it would vote all its shares in favor of SoftBank's improved offer.Sprint said it had ended talks with Dish, and it gave the company until June 18 to come back with its best and final bid.Under the new deal, SoftBank will purchase shares from current Sprint shareholders at $7.65 each, up from the previous offer of $7.30. The Japanese firm, led by billionaire founder Masayoshi Son, will end up with 78 percent of Sprint, compared with 70 percent in its previous bid, the companies said in a statement on Tuesday.
DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH remained unchanged at $38.86. In the past year, the shares have traded as low as $26.12 and as high as $40.34. On average, 3176820 shares of DISH exchange hands on a given day and today's volume is recorded at 0.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S remained unchanged at $7.18. In the past year, the shares have traded as low as $2.80 and as high as $7.50. On average, 55489300 shares of S exchange hands on a given day and today's volume is recorded at 32920128.
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