SoftBank CEO Masayoshi Son expressed his perspective on Dish Network’s unsolicited bid to acquire Sprint Nextel during an investor presentation. Son emphasized that he believed his offer to be superior and did not see the need to increase it in response to Dish’s proposal.

FAQs:

  1. What is SoftBank CEO Masayoshi Son’s response to Dish Network’s offer for Sprint Nextel?
    Answer: Son referred to Dish’s offer as “ridiculous” and stated that he believed SoftBank’s offer remained superior.

  2. What was the bid amount submitted by Dish Network for Sprint Nextel?
    Answer: Dish Network submitted a bid of $25.5 billion to acquire Sprint Nextel.

  3. How did Masayoshi Son calculate the value of SoftBank’s offer compared to Dish Network’s offer?
    Answer: Son calculated the value of SoftBank’s offer at $7.65 per share versus Dish Network’s $6.31 per share offer.

  4. What were some factors that Son argued made Dish Network’s offer less attractive?
    Answer: Son highlighted that Dish’s deal would result in a company with more debt, a longer timeframe for closure, non-standard spectrum, unrealistic savings expectations, and a lack of industry experience and relationships.

  5. Why did Son criticize Dish Network founder Charlie Ergen during the presentation?
    Answer: Son mentioned that Ergen lacked the experience to lead a wireless company and had not previously acquired such a large company.

  6. What did Son believe Sprint shareholders would gain by choosing SoftBank’s offer over Dish Network’s?
    Answer: Son expressed confidence that thorough consideration would lead Sprint shareholders to select the SoftBank deal.

Summary:

SoftBank CEO Masayoshi Son expressed his reservations about Dish Network’s bid to acquire Sprint Nextel, stating that he believed SoftBank’s offer was superior. Son highlighted various factors that he believed made Dish’s offer less appealing, including increased debt, a longer closure timeline, and a lack of industry experience. Despite Dish Network’s claims of easier regulatory approvals as a domestic company, Son remained confident in the smooth progress of the acquisition process with SoftBank. Sprint CEO Dan Hesse indicated that the companies were moving forward with plans to finalize the deal by July 1.

For more insights and updates on the ongoing developments between SoftBank, Dish Network, and Sprint Nextel, visit our website.