Sprint Nextel (S) Shareholders to Vote on Softbank Purchase on June 25

Update:  Sprint Nextel shareholders approved the merger with SoftBank on June 25, 2013.

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Standard & Poor’s Research (S&P) reported on June 19, “Dish Network (DISH, 39, Buy) announced it will not submit a new offer for Sprint Nextel. We believe this paves the way for a deal close between SoftBank and [Sprint] by the end of June. [Sprint] shareholders are scheduled to vote on the SoftBank offer on June 25, and we expect a favorable ruling by the FCC shortly after.”

“However, DISH has stated that it plans to focus its attention on its tender offer for Clearwire (CLWR, 5, NR) shares, and we believe [Sprint] will continue to fight hard to prevent DISH from taking a large minority stake.”

SoftBank Corp. recently raised its bid to acquire Sprint Nextel Corp. (S) shares to $7.65 apiece.

Sprint shares crashed with the 2008 Financial Meltdown, and have never recovered.  The company has been taking losses for years, and is projected to continue losing money for the next two years.

Investors who would like to be kept apprised of merger details and tax implications may sign up for the free Goodfellow LLC newsletter by emailing research@goodfellowllc.com.

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