According to Bloomberg, Sprint and Dish Network are no longer in talks for an acquisition. One of the big reasons for why the talks broke up is because of a failure to agree on a “breakup fee” that would be given to Sprint if the deal fell through. Allegedly, Sprint was demanding $3 billion and Dish was willing to give $1 billion.
Sprint created a dedicated committee to assess Dish’s buyout offer, which competed directly against SoftBank’s acquisition of the company. Over the last few weeks, SoftBank’s deal started sounding better and better. The U.S. Justice Department approved of SoftBank’s takeover bid and the company upped their offer earlier this week.
There will be a vote taking place on June 25th for the new offer. SoftBank and Sprint are hoping to close the deal in July.