$4.5B Shareholder Payday Costs Sprint On Deal Terms

Law360, New York (June 12, 2013, 3:42 PM EDT) -- Sprint Nextel Corp.'s shareholders picked up an extra $4.5 billion on Tuesday, but that payday could cost Sprint in more ways than one, as tightened deal terms keep the cash-poor carrier on a short leash.

In agreeing to a sweetened $21.6 billion offer from SoftBank Corp., Sprint dumped backup suitor Dish Network Corp., put itself on the hook for hundreds of millions of dollars in new fees, and agreed to adopt a poison pill and repurchase a $3 billion bond it sold SoftBank as part of...
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