News


Find MoFo Info


MoFo Lead Counsel for SoftBank on $20.1 Billion Investment in Sprint

10/15/2012

Kenneth A. Siegel, Robert S. Townsend, Andrew William Winden, Ivan G. Smallwood, Dale E. Caldwell, David A. Lipkin, Jackie Liu, Brandon C. Parris, Jeff Jaeckel, David L. Meyer, Nicholas J. Spiliotes, Bernie J. Pistillo, Kathryn I. Johnstone, and Peter C. Dopsch

Mergers + Acquisitions, Mergers + Acquisitions | Japan, Information Technology, and Communications Technology

MoFo News Item

A multi-office Morrison & Foerster team is representing Japanese wireless carrier SoftBank in its investment to acquire a 70% stake in wireless operator Sprint Nextel for $20.1 billion. The deal, announced Oct. 15, is structured to provide Sprint stockholders with $12.1 billion in funds, while $8.0 billion in new capital will strengthen Sprint's balance sheet. The enterprise value of the transaction is approximately $45 billion, making it the largest announced U.S. M&A transaction this year. The deal is also the largest outbound investment from Asia ever, and the largest transaction in Japan's history, surpassing Japan Tobacco Inc.'s $19.1 billion purchase of the UK's Gallaher Group in 2006. The transaction, which also required SoftBank to arrange financing in Japan for the deal, has widely been characterized as one of the most complex corporate transactions in some time.

Tokyo Managing Partner Kenneth Siegel and San Francisco partner and co-chair of the firm's Global M&A Practice Robert Townsend led the landmark deal for SoftBank. Additional deal team members include corporate partners Andrew Winden, Ivan Smallwood and Dale Caldwell in Tokyo, David Lipkin in Palo Alto, and Jaclyn Liu and Brandon Parris in San Francisco. Washington, D.C. partners Jeff Jaeckel and David Meyer handled antitrust matters; Washington, D.C. partner Nicholas Spiliotes handled Committee on Foreign Investment matters; partners Bernie Pistillo in San Francisco and Eric Roose in Tokyo handled tax matters; Palo Alto partner Michael Frank handled executive compensation matters; and partners Kathryn Johnstone in Los Angeles and Peter Dopsch in New York handled financing.

Email Disclaimer

Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.

©1996-2016 Morrison & Foerster LLP. All rights reserved.