Sprint Nextel Corp., the wireless carrier that languished at a stock price below its liquidation value less than a year ago, has morphed into the target of a bidding war that traders are wagering may escalate even further.
Dan Hesse’s White Room is closely guarded even within Sprint Nextel Corp. The chief executive officer carries the only key and draws black curtains over his scribblings before leaving. This is where Hesse retreats to map out “nukes” in red, blue and green ink, lately his tactics for stopping AT&T Inc.’s proposed takeover of T-Mobile USA.
Sprint Nextel Corp. Chief Executive Officer Dan Hesse said he’s on a hunt for wireless spectrum after watching Verizon Wireless and AT&T Inc. devour more and more of the mobile-phone industry’s most precious resource.
Softbank Corp.’s $20 billion deal with Sprint Nextel Corp. gives Chief Executive Officer Dan Hesse the firepower to bring renewed competition to the U.S. mobile- phone industry, creating benefits for consumers and challenges for AT&T Inc. and Verizon Wireless.
Clearwire Corp.’s board agreed to a sweetened, $2.97-a-share takeover bid from its wireless partner Sprint Nextel Corp., which is now offering $2.2 billion to acquire the portion of the company it doesn’t already own.
Softbank Corp. President Masayoshi Son is betting $20 billion he can add value by buying control of Sprint Nextel Corp. in the biggest Japanese purchase of a foreign company. There’s 26 trillion yen ($330 billion) that says he can’t.