Japanese telco Softbank has changed the terms of its deal with eAccess following a decline in its share value.
The share swap ratio will be raised from 16.74 to 20.09, Softbank said in a statement to the Tokyo stock exchange today.
Both companies also…
Japanese telco Softbank has changed the terms of its deal with eAccess following a decline in its share value.
The share swap ratio will be raised from 16.74 to 20.09, Softbank said in a statement to the Tokyo stock exchange today.
Both companies also agreed to bring the date of the share exchange forward by two months from the end of February to 1 January 2013.
Softbank announced its acquisition of rival operator eAccess on 1 October, valuing each eAccess share at Y52,000 (US$670) as part of the share exchange.
Follwing Softbank’s agreement in mid-October to acquire a 70% stake in US operator Sprint, its share price had dropped significantly.
Prior to confirmation of the Sprint acquisition, Credit Suisse analysts on a conference call speculated that the US deal would impact Softbank’s share price and that its merger ratio with eAccess could be changed if shares dropped by 15%.
