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SoftBank Jumps 1 Hurdle In Its Bid for Sprint

Dan Radovsky
May 3, 2013

SoftBank can check off one more item on its to-do list in its mission to acquire Sprint Nextel (NYSE: S). On Thursday, the Japanese telecom announced the Securities and Exchange Commission gave its OK for Sprint to begin mailing proxy materials to shareholders regarding the upcoming vote on the transaction.

That vote will be held June 12 at a special shareholders' meeting, and it goes without saying (but I am saying it anyway) that SoftBank will be encouraging Sprint investors to vote for the proposal.

But the SEC thumbs up was just a small barrier