Sprint, SoftBank Defend $22B Deal Against Dish Backlash

Law360, San Francisco (June 13, 2013, 11:32 PM EDT) -- Sprint Nextel Corp. on Thursday stood by the sweetened $21.6 billion buyout offer SoftBank Corp. unveiled this week, after rival bidder Dish Network Corp. urged the Federal Communications Commission to demand a new analysis of the modified deal, which now includes a poison pill.

In a letter to the FCC on Wednesday, Dish questioned how the amended deal — which would cut SoftBank's cash flow to Sprint by $3 billion — could be considered an improvement.

“To allow a reduction of the infusion from $8 billion to...
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