Sprint Nextel Corp. is under increasing pressure to open up its books to Dish Network Corp., which is arranging the financing it would need to outbid SoftBank Corp. with a $25.5 billion takeover offer.
Sprint Nextel Corp.’s bid for Clearwire Corp., slated for an investor vote on May 21, won the endorsement of Egan-Jones Ratings Co., which joined Institutional Shareholder Services Inc. in supporting the deal.
SoftBank Corp. Chief Executive Officer Masayoshi Son renewed his attacks on Dish Network Corp., his rival suitor for Sprint Nextel Corp., saying the satellite company would be a poor match for a wireless carrier.
Sprint Nextel Corp.’s takeover bid for Clearwire Corp., slated for an investor vote on May 21, received mixed reactions from the two biggest shareholder- advisory firms, with Institutional Shareholder Services Inc. endorsing the deal and Glass, Lewis & Co. opposing it.
YRC Worldwide Inc., the trucker that stumbled after reaching No. 1 in the U.S. through mergers, said it remains interested in acquiring Arkansas Best Corp. following the rival company’s rejection of an offer to begin talks.
SoftBank Corp., defending its takeover bid for Sprint Nextel Corp. against a counteroffer from Dish Network Corp., told investors that its deal will bring about $3 billion in annual operating savings by 2017.
Sprint Nextel Corp., weighing a $25.5 billion bid from Dish Network Corp., is holding off on granting its suitor access to its books because of questions over funding and cost savings, said people familiar with the matter.
Mount Kellett Capital Management LP said it forged an alliance with other Clearwire Corp. investors to coax Sprint Nextel Corp. into making a better takeover offer for the struggling wireless Internet company.
SoftBank Corp. President Masayoshi Son lashed out at fellow billionaire Charlie Ergen, saying he doesn’t have the expertise to run Sprint Nextel Corp., the U.S. mobile-phone company both men are trying to take over.