The long-anticipated merger of Sprint Corp and T-Mobile US Inc is not expected to occur before September, with the companies continuing due diligence and preparing a detailed case for a deal before U.S. regulators, according to people familiar with the matter. Japan's SoftBank Corp, which controls Sprint, and T-Mobile owner Deutsche Telekom AG have agreed to broad terms of a deal, under which Sprint would pay around $40 per share for T-Mobile, valuing the smaller rival at nearly $32 billion, Reuters reported in early June.Despite agreeing to other key terms such as break-up fees, the proposed transaction is taking extra time to finalize, partly because the companies are keen to bulletproof their arguments for a merger that is sure to face heavy regulatory scrutiny, two of the people familiar with the matter said on Tuesday.All the people asked not to be named because the discussions are private.Representatives for Deutsche Telekom could not be immediately reached for comment, while representatives for Sprint, T-Mobile and SoftBank declined to comment.
Shares of TMUS traded higher by 0.93% or $0.29/share to $31.44. In the past year, the shares have traded as low as $22.95 and as high as $35.50. On average, 3851030 shares of TMUS exchange hands on a given day and today's volume is recorded at 1776539.
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