On Friday, the Ontario Teachers Pension Plan, the fifteenth largest shareholder in Sprint Nextel Corp. has intended to vote for SoftBank's offer to acquire 70% of the company.
The pension planned owns 1.33% of Sprint or a total of 40.2 million shares. This was according to the latest public information available.
Details were not provided on its website on how it concluded to vote before the special shareholders meeting to be held on June 12.
However, several other shareholders stated that they weren't happy with SoftBank's offer as Dish Network made a rival bid amounting to US$25.5 billion on April 15.
John Paulson, a hedge fund titan who holds 7.7% of Sprint according to data stated in April that the offer from Dish Network is more compelling as it offers more value to Sprint shareholders.
Omega Advisors, Sprint's ninth largest shareholder owning more than 2% of the company also stated that the Dish offer was in the lead.
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