The American Lawyer recently announced the winners of its inaugural Global Legal Awards in 30 categories and Sprint (News - Alert) was one among them, bagging Global M&A Deal of the Year U.S. Award. Sprint won this new award for the SoftBank transaction that took place in July this year.
Sprint’s legal team, including lead M&A counsel, Skadden, Arps, Slate, Meagher & Flom LLP, were recognized with ALM Global Legal Awards.
“Our work on the SoftBank deal represents great effort among a cross functional team of in-house and outside lawyers,” said Charlie Wunsch, senior vice president and general counsel at Sprint. “And we are pleased to have our work recognized by ALM.”
Sprint had been in talks with SoftBank since last October regarding a $20.1 billion offer. This July, Softbank went ahead and officially completed its $21.6 billion acquisition of Sprint Nextel (News - Alert), after a continued bidding war between SoftBank and Dish Network.
Japan-based Softbank paid $7.65 per share in cash (about $16.6 billion) for a 78 percent ownership stake in the new company. The deal, which Sprint shareholders overwhelmingly approved, won the unanimous approval of the Federal Communications Commission.
The inaugural awards “honor the deals or disputes of 2012 that best exemplify the challenges of transnational legal practice,” according to The American Lawyer.
Sprint served more than 53 million customers at the end of the second quarter of 2013 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States.
The company offers mobile data services, prepaid brands including Virgin Mobile (News - Alert) USA, Boost Mobile, and Assurance Wireless, instant national and international push-to-talk capabilities and a global Tier 1 Internet backbone.