June 25, 2013 |
Sprint shareholders approved a $21.6-billion acquisition by SoftBank on Tuesday, bringing an end to the takeover drama involving Dish Network Corp., which had also made a play for the No. 3 U.S. carrier. About 98% of shareholders voted to approve the deal, which will pay them either $7.65 per share for the stock they now hold, or give the same number of shares of new Sprint common stock. The deal will give SoftBank 78% ownership of Sprint. “The transaction with SoftBank should enhance Sprint's long-term value and competitive position by creating a company with greater financial flexibility," Sprint Chief Executive Dan Hesse said in a statement . PHOTOS: The 10 biggest tech gadget fails Sprint said it expects the Federal Communications Commission to approve the deal early next month.
August 30, 2013 |
Life isn't always sleepy in rural North Dakota. The tiny town of Leith -- which had 16 residents as of the 2010 census -- got a rude awakening last week when it was revealed that a newcomer in town was plotting a takeover to make Leith a white-supremacist haven. Paul Craig Cobb, 61, had moved to town about a year ago and made an announcement in May 2012 about his plans for a "White Nationalist intentional community in North Dakota. " "Been waiting quite a few months to spring this.
October 9, 2013 |
Men's Wearhouse Inc. has a suitor who wants to pay $2.3 billion to take over the retailer, but the menswear company is having none of it. Saying that the bid from Jos. A. Bank Clothiers Inc. “significantly undervalues” the chain, Men's Wearhouse rejected the nonbinding proposal Wednesday. Hampstead, Md,-based Jos. A. Bank said in a statement that it had made its offer on Sept, 18, several months after Men's Wearhouse removed its founder and longtime spokesman, George Zimmer, as executive chairman.
April 27, 2014 |
PCM Inc., an El Segundo company that sells information technology products and services, has attracted little attention in more than a quarter-century of business. But that soon may change. The owner of a competing company has starting snapping up PCM's stock, raising speculation of a possible takeover. Firoz Lalji, chairman of technology company Zones Inc. in Auburn, Wash., now owns about 5% of PCM, according to a regulatory filing. And he called PCM "one of the poorest-performing companies in its industry.
September 12, 2012 |
Sirius XM Radio Inc. Chief Executive Mel Karmazin said he would likely leave the company when Liberty Media takes control of the satellite radio broadcaster. Liberty, the largest shareholder in SiriusXM, currently holds just under 50% of the stock and has already told the Federal Communications Commission that it plans to acquire more than that and would like the regulatory agency to approve it as the outright owner when that happens. Speaking at the Merrill Lynch Media, Communications and Entertainment Conference in Beverly Hills on Wednesday, Karmazin said he is willing to talk about staying but added, "If I were Liberty I would say, 'I'm not sure we need Mel.'" Karmazin's contract with SiriusXM is up at the end of the year.
June 26, 2013 |
Japanese telecom giant SoftBank Corp. got shareholder approval for its mammoth takeover of Sprint Nextel Corp., giving America's No. 3 wireless carrier ammunition to take on industry leaders Verizon Wireless and AT&T. The $21.6-billion deal for a majority stake in Sprint is expected to enable the company to speed up the rollout of its high-speed 4G LTE service in new markets around the country. That should help it attract new customers, analysts said. "This is exactly what Sprint needs," said Jeff Kagan, a technology industry analyst.