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Softbank's cash-and-stock deal for Sprint Nextel totaled $21.6 billion
TOKYO, July 11 () -- Japan's SoftBank Corp. announced the completion of its $21.6 billion acquisition of U.S. wireless carrier Sprint Nextel Corp. in Overland Park, Kan.SoftBank said on its website it acquired 72 percent of Sprint shares at $7.65 a share in cash and the remaining shares were converted into shares of a new publicly traded entity named Sprint Corp. The new Sprint common shares will be listed on the New York Stock Exchange.SoftBank,[url=http://www.govtvault.com/]gucci belt men[/url], based in Tokyo, said its holding company in the United States now owns 78 percent of the shares in the new Sprint.The merger will create the world's third-largest mobile phone carrier.SoftBank Chief Executive Officer Masayoshi Son will become chairman of the new company's board of directors. Dan Hesse will stay as Sprint chief executive officer,[url=http://www.myeduhelp.com/]christian louboutin outlet[/url], Kyodo News reported.