Shearman Represents EAccess In $1.6B EMobile Buy

Law360, New York (March 31, 2010, 6:47 PM EDT) -- Japanese broadband provider eAccess Ltd. announced Wednesday it will acquire affiliate EMobile Ltd. as a wholly owned subsidiary through a $1.6 billion share exchange agreement.

EAccess will allocate 1.45 shares of common stock in the company in exchange for one share of common stock or preferred stock in EMobile, which provides cell phone and data communications services. The companies plan to complete the exchange on Jul. 1.

EAccess currently holds a 42.6 percent share in EMobile.

The two companies work together on a mobile virtual network...
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