By Karlee Weinmann ( May 8, 2013, 1:27 PM EDT) -- Sprint Nextel Corp., which is considering a $25.5 billion counterbid from Dish Network Corp. after earlier approving a partial takeover by Japan's SoftBank Corp. has been slow to open its books to its newest suitor in light of lingering skepticism over financing and cost savings, according to a Wednesday report from Bloomberg. Dish has insisted that its bid outmatches SoftBank's offer, and has pressed the company to open itself to due diligence so that terms between the two can be firmed up ahead of a sale. The satellite television provider has said it needs to see Sprint's financial information in order to line up funding for the proposed buyout, but the target company's board is concerned that even with the information in hand, Dish would not be able to nail down the hefty $9.3 billion financing package required to seal the deal. Sprint is also wary of Dish's insistence that its takeover would yield a whopping $11 billion in cost savings....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.