A potential merger of Dish Network with Sprint Nextel would not have to fear antitrust scrutiny.
Dish said today that the waiting period for the proposed transaction under US antitrust regulation, the Hart-Scott-Rodino Antitrust Improvements Act (HSR),…
A potential merger of Dish Network with Sprint Nextel would not have to fear antitrust scrutiny.
Dish said today that the waiting period for the proposed transaction under US antitrust regulation, the Hart-Scott-Rodino Antitrust Improvements Act (HSR), has expired.
Unlike in many other jurisdictions, US antitrust authorities do not issue merger clearance decisions. Instead, companies can consider a merger as cleared to go ahead if regulators do not issue a second request asking for further details within 30 days of the initial filing. This waiting period expired yesterday.
Dish is in a bidding war for Sprint with Japanese telco Softbank. While in financial terms Dish’s US$25.5bn offer is significantly higher than Softbank’s US$20.1bn bid, the latter transaction is much further advanced and, after recently receiving CFIUS approval, could close in July. It is also supported by Sprint’s board, although shareholder approval is still outstanding.
Investors are set to vote on Softbank’s proposal next week.
