Sprint Nextel Corporation (NYSE:S)’s shares trading low – DISH


Dallas, Texas 07/29/2013 (Financialstrend) – Following the three way merger involving Sprint Nextel Corporation (NYSE:S), Softbank Corp and Clearwire Corporation, Sprint removed Nextel from its name which shows the Nextel shutdown in the merger deal, Sprint Nextel Corporation which is the third biggest wireless carrier in the United States facing difficult times such as huge debt by the acquisition of Nextel which was a complete failure. Earlier sprint conducted elections regarding sprint shareholders preference to receive cash or stock to the form of merger consideration where 53 percent of outstanding shareholders of sprint voted to receive cash and it also got approval from federal communications commission (FCC) for Japan’s Softbank acquisition.

The shareholders will receive $16.6 billion in cash as per the merger deal, as Softbank had to revise the deal to enhance shareholder’s cash component its balance sheet would grow $5 billion as a replacement of $8 billion. The Japanese carrier Softbank had raised its bid for Sprint Nextel Corporation (NYSE:S) to beats competing proposal in the battle with satellite TV provider DISH Network Corp (NASDAQ:DISH) which also competed to acquire Sprint and made a offer of $25.5 billion . Thus Sprint Nextel Corporation (NYSE:S) is now under the control of SoftBank which owns 78% stake.

The share of Sprint Nextel Corporation (NYSE:S) was bearish by 1.37% on Friday to close down for the day with $5.74 per share. The company had recorded the trading day low price of $5.73 and high price of $5.85 on Friday. For the last twelve months of trading, the low price of the stock is at $5.15 and high price of the stock is at $7.14 per share. Currently there are 3.02 billion shares of the company outstanding in the market and 89% institutional ownership. The trading volume of the company on Friday was 18.12 million shares and the trading volume over the past 30 days of the company was 48.32 million shares per day. The total market value of the company is 17.32 billion.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.