SoftBank raises Sprint offer, shareholder vote delayed

Japan’s SoftBank Corp said on Tuesday that it has agreed with Sprint Nextel Corp to raise its offer for the US wireless operator to US$21.6 billion (HK$167.7 billion) from a previous offer of US$20.1 billion.

The announcement came a day before a scheduled Sprint shareholders’ meeting to vote on SoftBank’s offer, which faces a challenge from Dish Network Corp’s counter offer of US$25.5 billion for Sprint, the No. 3 US mobile provider.

That meeting has now been adjourned until June 25.

via Business feed http://www.scmp.com/business/companies/article/1258301/softbank-raises-sprint-offer-shareholder-vote-delayed