Softbank is digging in its heels and won’t raise its $20.1B offer for Sprint after Dish upped the anted by offering $25.5B for the US wireless carrier. SoftBank President Masayoshi Son called Dish’s offer “incomplete and illusory” and said his company’s offer is far better for the long term value of the Sprint, according to a Reuters report.
“Our price offer is better than theirs. Our timing is one year quicker at least. Our leverage is much more healthy.”
Sun argued that the Dish deal will face additional regulatory scrutiny, potentially costly breakup fees, transaction costs and more. Sprint hasn’t commented on which deal brings more value to the company, but it has expressed in an interest in examining the Dish offer more closely.
[Via Reuters]