T-Mobile, Sprint confirm updated merger agreement
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Just as was rumored, T-Mobile and Sprint have now confirmed that they’ve updated their merger agreement. The new agreement includes an exchange ratio of 11.00 Sprint shares for each T-Mobile share, up from the original agreement of 9.75 Sprint shares. SoftBank, Sprint’s owner, has agreed to surrender 48.8 million T-Mobile shares acquired in the merger to the New T-Mobile, making SoftBank’s effective ratio 11.31 shares per T-Mo share. Sprint shareholders … [read full article]