Don't like new Offer at all - and numbers don't add up
Reading the Sprint release on this.....the "new" $4.5 of additional cash is really $1.5 Billion from Softbank and $3 Billion being re-allocated out of Sprint.....
1) so that's like taking $3 Billion away from the shareholders since New Sprint will have $3 Billion less cash...that's not good
2) and the end result is existing holders own only 22% of New Sprint versus 30% previously, we just lost 8% ownership of New Sprint...also not good
3) and the numbers here in general don't add up.....the cash-exchanged shares are 1.65 Billion shares (the other 1.35 Billion shares are the ownership in New Sprint), we're getting only a .35 bump over the previous offer...how is that an extra $4.5 Billion for us?
Ive read it you are correct. Im over at the Clearwire board, we are not sure whats going to happen there. Some Canadian pension fund is on board. If Soft gets S or CLWR, Id be BS. I would find out where the BOD live. this is unfair for the retail/minority shareholders, bad deal unless your Soft or on BOD
Curiuos offer to say the least, new company is weakened and we get very little in return. I say there is so much more than we know going on behind the curtain. I am not happy with this latest offer but maybe that's the desired outcome. This offer a two year old could figure is a non starter. IMO
I agree. But there is still hope. Dish has until the 18 to come up with a better offer. I think there is still some dissatisfied factions out there who think dish will up the bid or else they would have not postponed the vote for 2 more weeks.
And, S shareholders have until June 25th to vote on the amended agreement. Plenty of time to analyze this latest offer by SB and see if DISH comes up with a final, final offer (well, till June 18th for that).