mergers

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

Intel CEO favors SoftBank over Dish for Sprint takeover

Intel CEO Paul Otellini is throwing his weight behind SoftBank in the bidding war for Sprint, according to Reuters.

Otellini sent a letter to Federal Communications Commission Chairman Julius Genachowski giving word that he favored SoftBank, a wireless carrier based in Japan, over Dish for the Sprint takeover offer.

Sprint has been in talks with SoftBank since last October regarding a $20.1 billion offer, but as the deal closing has neared Dish came in with a surprise counter offer of $25.5 billion. If Sprint were to accept SoftBank's bid, the deal would close by the beginning of July.… Read more

SoftBank CEO bashes Dish's Sprint offer, says his is superior

SoftBank CEO Masayoshi Son didn't mince words when discussing Dish Network's unsolicited offer to buy Sprint Nextel from under the Japanese carrier.

"To me, it's ridiculous," he said Tuesday of Dish's vision of merging its satellite TV service with Sprint's wireless service.

Son spent more than 90 minutes during an investor presentation in Japan -- primarily conducted in English -- laying out the argument for why his offer remains superior. As such, he doesn't believe SoftBank needs to raise its offer for Sprint.

Dish earlier this month submitted a bid of $25.… Read more

Sprint gets OK from SoftBank to explore rival Dish offer

Sprint Nextel has received approval from SoftBank to continue talking to Dish Network about its rival takeover offer, the carrier said Monday.

Sprint has already agreed upon a deal in which it would merge with SoftBank, a wireless carrier based in Japan. But Dish last week launched a sweetened $25.5 billion bid for Sprint.

The carrier said Monday that it had gotten a waiver from SoftBank to clarify and obtain additional information on the Dish proposal. Sprint is now able to enter into a non-disclosure agreement with Dish, although it is not able to provide Dish with non-public information. … Read more

Verizon prepping bid for Vodafone's share of Verizon Wireless, says report

Could Verizon and Vodafone be getting closer to ending their joint ownership of Verizon's wireless business?

Reuters reported Wednesday that Verizon has hired banking and legal advisers to put together a $100 billion bid for Vodafone's share of Verizon Wireless, the No. 1 wireless carrier in the U.S., and that Verizon's board is expected to discuss details of a potential buyout next week, at a meeting prior to its annual shareholder meeting.

Unnamed sources told the news agency that Verizon is confident it can raise about $50 billion from bank financing and that the rest of … Read more

Dish tells FCC its Sprint buyout is 'better for national security'

It appears that when Dish wants something it doesn't give up.

After making a surprise bid of $25.5 billion to acquire Sprint on Monday -- which would snatch the mobile provider from the hands of Japan's SoftBank -- Dish submitted a filing to the Federal Communications Commission on Thursday claiming a SoftBank acquisition of Sprint wouldn't be good for U.S. national security.

According to Reuters, Dish requested that the FCC suspend the review of SoftBank's possible buyout of Sprint. In the filing, Dish claimed that Softbank didn't have the "existing in-market infrastructure&… Read more

Google acquires Android mobile-data firm Behavio

Google has snapped up Behavio, the fledgling company behind Funf, the Android "open sensing" framework that aimed to provide better access to, and use of information from, smartphones using Google's mobile OS.

Financial terms of the deal were not disclosed.

Behavio's most notable achievement is the Funf framework, which gathers vast amounts of data about people and their location by way of their phone. By using information about people in combination with other data about their surrounding area, Behavio can better predict their future actions -- for example, places they're most likely to visit next … Read more

Softbank confident of Sprint deal, despite Dish's $25B bid

Calling Dish Network's rival bid for Sprint Nextel "highly conditional," Softbank said tonight it is going ahead with its merger proposal for the troubled carrier and expects to close the deal this summer.

The satellite TV provider submitted a merger proposal this morning valued at $25.5 billion, a 13 percent premium over the Japanese wireless carrier's merger proposal, which offered $20.1 billion for a controlling stake in Sprint.

"Softbank believes that the agreed terms of our transaction with Sprint offer Sprint shareholders superior short- and long-term benefits to Dish's highly conditional preliminary … Read more

MetroPCS urges investors to vote for latest T-Mobile deal

MetroPCS is asking its stockholders to give the thumbs-up to the latest buyout bid from T-Mobile USA parent Deutsche Telekom.

Following months of talks with MetroPCS, Deutsche Telekom finally sweetened its buyout offer Thursday, prompting the board of MetroPCS to amend its terms for the proposed merger.

Amid some concerns over the deal, Deutsche Telekom reduced the amount of debt the combined company would take on from $15 billion to $11.2 billion. The interest on the debt will also be lowered by 50 basis points, allowing the combined company to more easily pay it back.

To address fears that … Read more