Dish Network’s June 18 deadline to submit a revised offer for Sprint has come and gone, which means that Sprint is ready to be acquired by Softbank. Dish stated that even though it “continues to see strategic value in a merger with Sprint,” the terms laid out by Sprint were impractical, and so Dish will focus its resources on Clearwire instead.
This still might cause a headache for Softbank, though, which expected that Sprint would have completed its complete acquisition of Clearwire before Softbank completed its acquisition of Sprint. If Dish manages to get Clearwire – something that Clearwire’s board desires – then Softbank’s terms for Sprint may change.
For its part, Sprint has filed a lawsuit against Dish, following up on previous accusations that Dish’s bid is actually illegal. Sprint’s full complaint can be found at the source link below.
What a mess.[Yahoo! | Reuters | Sprint] Thanks, Terrell!