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Softbank Inches Closer to Acquiring Sprint

Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week.SoftBank Chief Executive Masayoshi Son is now a step closer to sealing the largest overseas acquisition by a Japanese company in history, after winning support from a key shareholder by raising SoftBank's offer to $21.6 billion from $20.1 billion last week.Son, a rare risk-taker in a cautious Japanese corporate environment, has been determined to thwart a rival bid from Dish - led by Chairman Charlie Ergen, known for aggressive takeover attempts - in an effort to break into the U.S. market."We look forward to receiving the FCC (Federal Communications Commission) and shareholder approvals which will allow us to close in early July and begin the hard work of building the new Sprint into a meaningful 3rd competitor in the US market," Softbank said in a statement.SoftBank, ...

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  2. BNP Paribas Plans U.S Investment Banking Expansion

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