Sprint Shareholders Approve SoftBank Merger
Sprint Nextel Corp. leapt over one of the last hurdles to its proposed US$21.6 billion merger with Japan's SoftBank Corp. Tuesday morning.
Sprint said that about 80 percent of its shares outstanding were voted in favor of the merger in Tuesday's meeting. Sprint and SoftBank anticipate the merger will be consummated in early July.
The companies still need to get final approval from the FCC to seal the deal.
Sprint and SoftBank got onto the fast lane to mergerville after Dish Network Corp. dropped its rival bid to merge with Sprint last week.
If you need to catch up on the entire Sprint-SoftBank M&A saga, click here. — Dan Jones, Site Editor, Light Reading Mobile