S&P lowered SoftBank's rating after winning the bid on Sprint. According to a statement by Standard & Poor, SoftBank ratings were lowered from BBB to the highest non-investment grade of BB+, with a stable outlook.
Tags: Dish Network Corp
Centerbridge backs out of deal to acquire LightSquared
Private equity firm Centerbridge Partners has abandoned the deal to buy bankrupt LightSquared. Centerbridge, which had offered $3.3 billion for LightSquared, is uncertain over when federal regulators would approve the company's proposed building of a wireless network.
Centerbridge Partners to take over LightSquared for $3.3 billion
Private equity firm Centerbridge Partners will pay $3.3 billion and assume about $1.7 billion in debt should it acquire bankrupt telecommunications company LightSquared Inc. Centerbridge and LightSquared were said to have reached a tentative takeover deal.
Top deals of the deay - bids, mergers and acquisitions
The following bids, mergers, acquisitions and disposals were reported on Friday including Statoil, Cassa Depositi e Prestiti, ThyssenKrupp, Mercator, Avivasa Emeklilik, Hayat Sigorta, Banca Monte dei Paschi di Siena, Telus Corp, Atrium Innovations and John Hardy
Justice Department questions feasibility of LightSquared bankruptcy exit plans
The US Department of Justice objected to four restructuring plans put forth by bankrupt LightSquared and its creditors. The objection will be discussed at a bankruptcy court hearing on December 10 in Manhattan.
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Crest Financial said it was supporting Sprint's purchase of Clearwire's stake after Spint increased its bid from US$2.97 to US$5.0 per share.
Sprint Nextel, to ease out Dish Network from the picture, upped the ante and offered US$5 per shsre.
The following bids, mergers, acquisitions and disposals were reported on Monday. The following bids, mergers, acquisitions and disposals were reported on Monday.
