Press Releases for Japan
SoftBank to Acquire 70% Stake in Sprint
SOFTBANK CORP. (“SoftBank”) (TSE: 9984) and Sprint Nextel Corporation (“Sprint”) (NYSE: S) today announced that they have entered into a series of definitive agreements under which SoftBank will invest $20.1 billion in Sprint, consisting of $12.1 billion to be distributed to Sprint stockholders and $8.0 billion of new capital to strengthen Sprint’s balance sheet. Through this transaction, approximately 55% of current Sprint shares will be exchanged for $7.30 per share in cash, and the remaining shares will convert into shares of a new publicly traded entity, New Sprint. Following closing, SoftBank will own approximately 70% and Sprint equity holders will own approximately 30% of the shares of New Sprint on a fully-diluted basis.
Gillette Fields Team for the London 2012 Olympic Games
Gillette, a P&G brand, today introduced a team of 24 world-class athletes from 18 countries that will represent the world’s leading male grooming brand at the 2012 Olympic Games in London. The athletes include Roger Federer of Switzerland, Ryan Lochte of the United States, Lin Dan of China, Emmanuel Ginobili of Argentina and Sir Chris Hoy of Great Britain. Each of these athletes will participate in activities to help inspire and encourage future generations to achieve greatness through great starts in athletics – and in life.