News Summary: Softbank sweetens offer for Sprint

Japan's Softbank sweetens offer for Sprint by $1.5 billion to $21.6 billion

Associated Press

DONE, AND DONE: A month after being challenged by a rival to raise its bid for Sprint Nextel, Japan's Softbank did just that, by $1.5 billion.

SPRINT FOR THE CABBAGE: That brings Softbank's total bid to $21.6 billion for the nation's third-largest carrier, which is still short of the $25.5 billion offered by the rival Dish Network.

FROSTING: Sprint said already said it's determined that Dish will not be able to come up with a better offer and issued a June 18 deadline for a best and final offer. But the revised deal suggests that Softbank still wants to mollify any Sprint shareholders who are not yet sold on the deal.

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