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From: FJB4/30/2018 6:20:43 AM
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Eric L

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T-Mobile, Sprint announce merger; combined company valued at USD146bn
30 Apr 2018
United States

T-Mobile US and Sprint Corporation have entered into a definitive agreement to merge in an all-stock transaction at a fixed exchange ratio of 0.10256 T-Mobile shares for each Sprint share or the equivalent of 9.75 Sprint shares for each T-Mobile US share. Based on closing share prices on 27 April, this represents a total implied enterprise value of approximately USD59 billion for Sprint and approximately USD146 billion for the combined company.

The combined company will be named T-Mobile, and it will be headquartered in Bellevue, Washington, with a second headquarters in Overland Park, Kansas. John Legere, current President and CEO of T-Mobile US will serve as CEO, and Mike Sievert, current COO of T-Mobile, will serve as President and COO of the combined company. The remaining members of the new management team will be selected from both companies during the closing period. Tim Hottges, current T-Mobile US Chairman of the Board, will serve as Chairman of the Board for the new company. Masayoshi Son, current SoftBank Group Corp Chairman and CEO, and Marcelo Claure, current CEO of Sprint, will serve on the board of the new company.

Mr Legere commented: ‘This combination will create a fierce competitor with the network scale to deliver more for consumers and businesses in the form of lower prices, more innovation, and a second-to-none network experience – and do it all so much faster than either company could on its own. As industry lines blur and we enter the 5G era, consumers and businesses need a company with the disruptive culture and capabilities to force positive change on their behalf.’
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