mergers

Microsoft flirted with buying Nokia, WSJ says

Microsoft was in deep discussions to acquire Nokia, but talks have broken down, according to the Wall Street Journal.

With such a deal, Microsoft would gain direct control over the mobile device maker, which has been the marquee partner for the software giant's fledgling Windows Phone operating system. Such a deal could shake up the smartphone business in the same way that Google did when it acquired Motorola Mobility.

Nokia and Microsoft both declined to comment on the report.

Both Microsoft and Nokia had been struggling to regain their once dominant positions. Microsoft has been pushed back on its … Read more

Dish steps down from Sprint merger to clear way for Clearwire

Just when it was looking like Dish would never let Sprint go, it has.

The satellite company announced Tuesday that it was planning to step down from it's $25.5 billion offer on Sprint to focus on it's deal with Clearwire. This means that Sprint will most likely soon be in the hands of Japanese wireless carrier SoftBank.

"While DISH continues to see strategic value in a merger with Sprint, the decisions made by Sprint to prematurely terminate our due diligence process and accept extreme deal protections in its revised agreement with SoftBank, among other things, have … Read more

Telefonica refutes report of AT&T takeover bid

Telefonica is throwing cold water on a report that AT&T made an offer to acquire it.

In a statement released Monday, the Spanish telecommunications giant said that "in relation to press rumors published today, Telefonica states that it has not received any approach, nor any indication of interest, neither verbal nor in written form, from any party."

Telefonica was responding to a story published Monday by Spanish newspaper El Mundo saying that AT&T had initiated a tender offer to acquire the company to the tune of 70,000 million euros ($93 billion) and take … Read more

Softbank ups Sprint offer to $21.6B

As the battle between SoftBank and Dish in the takeover of Sprint increasingly heats up, SoftBank has announced that it will raise its offer to from $20.1 billion to $21.6 billion.

SoftBank said Monday that the amended merger agreement will give shareholders a greater value, including greater cash consideration and increased certainty.

Under the new agreement SoftBank said it will deliver an additional $4.5 billion of cash to Sprint stockholders at closing, which brings the total cash consideration available to Sprint stockholders to $16.64 billion. This offer would also give SoftBank a higher stake in Sprint … Read more

Justice Department: FCC can proceed with review of Sprint-SoftBank deal

The Department of Justice has given the Federal Communications Commission the go-ahead to issue a decision on Softbank's proposed buyout of Sprint.

In a letter to the FCC on Friday (PDF), the department said the Justice Department -- including the FBI -- along with the Department of Homeland Security had no problem with the deal proceeding.

"The agencies have reviewed the information provided by the applicants and analyzed the measures undertaken by the applicants to address potential national security, law enforcement, and public safety issues, including supply chain issues," the letter said. "Based on this review, … Read more

Top proxy firm ISS likes SoftBank's offer for Sprint

A top adviser to mutual funds and other large investors says Sprint shareholders should give the thumbs-up to SoftBank's offer to buy the company, but it doesn't address a rival, preliminary -- and higher -- offer from Dish Network.

In a report, proxy firm Institutional Shareholder Services said, according to The Wall Street Journal, that SoftBank's $20.1 billion offer "addresses Sprint's most compelling need: capital to acquire additional spectrum and complete the transformation of its network, enabling it to fully compete in the U.S. market."

The compelling need for capital aside, ISS … Read more

Sprint-SoftBank deal clears U.S. national security review

SoftBank's $20 billion merger with Sprint is just fine for a U.S. committee that monitors national security issues between companies.

Sprint announced Wednesday that the Committee on Foreign Investment in the U.S. (CFIUS) has cleared its proposed merger with Japan's SoftBank, saying that there are no national security issues that would make it unacceptable to the government. The companies have also signed a National Security Agreement with the U.S. government ensuring that they won't bring any issues to the floor after their merger.

Sprint's announcement today comes just a day after a report … Read more

SoftBank grants waiver for Sprint to talk more to Dish

SoftBank made a bold move in its ongoing battle with Dish to acquire Sprint. The Japanese wireless carrier gave Sprint a special waiver on Monday to let it go into more broad talks with Dish.

While this seems counterintuitive, SoftBank said that it believes further talks between Dish and Sprint will only show the U.S. wireless carrier that SoftBank is the superior candidate for the acquisition.

"We continue to believe that our agreed transaction, which we plan to close in approximately six weeks, creates substantially greater value and provides far greater certainty for Sprint shareholders," SoftBank Holdings … Read more

Yahoo board approves $1.1B acquisition of Tumblr -- WSJ

Yahoo's board has approved a $1.1 billion acquisition of blogging site Tumblr, according to the Wall Street Journal.

The Journal first reported the news on Sunday via Twitter.

An imminent announcement of the acquisition had been expected. AllThingsD reported Friday that Yahoo's board was meeting this weekend to finalize a deal. Rumors about the possible tie-up first surfaced on Thursday. The deal could be announced on Monday as part of a product announcement event Yahoo is holding in New York tomorrow. According to reports, Tumblr's board of investors, including Sequoia Capital, Union Square Ventures and Spark … Read more

SoftBank turns up the heat on Dish over Sprint merger

As the bidding war between Dish and SoftBank for the merger of Sprint intensifies, SoftBank is pulling out all the stops to block Dish from getting in the way.

The Japanese wireless carrier launched a new Web site on Tuesday pointing out the reasons it believes it should be the company to acquire Sprint. It also funded a study (pdf) for an industry expert to question the benefits that Dish claims would come from its Sprint merger.

Sprint has been in talks with SoftBank since last October regarding a $20.1 billion offer, but as the closing date neared, Dish … Read more