ISS Backs SoftBank's $20B Sprint Deal

Law360, New York (June 3, 2013, 1:18 PM EDT) -- Institutional Shareholder Services Inc. on Friday recommended that Sprint Nextel Corp. shareholders vote in favor of the company's $20.1 billion takeover by SoftBank Corp., dealing a blow to Dish Network Corp.'s rival effort to buy the company.

The proxy adviser said SoftBank's plan — which would cash out 55 percent of Sprint's public shareholders and send about $8 billion directly into the company — will help Sprint trim its debt and pay for much-needed improvements to its wireless network, which has struggled to peel subscribers away...
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