M&A 2018 Annual Review

Sprint Morrison & Foerster is lead counsel to Sprint Corp. and SoftBank Group Corp., the controlling shareholder of Sprint, on the landmark merger of Sprint and T-Mobile US, Inc. This transaction represents a total implied enterprise value of approximately $59 billion for Sprint and approximately $146 billion for the combined company. This was the largest telecommunications transation announced in 2018 and one of the largest telecommunications deals in history. The combined company will be named T-Mobile and it will be a force for positive change in the U.S. wireless, video, and broadband industries. It will have the network capacity to rapidly create a nationwide 5G network with the breadth and depth needed to enable U.S. firms and entrepreneurs to continue to lead the world in the coming 5G era. “BOTH SPRINT AND T-MOBILE HAVE SIMILAR DNA AND HAVE ELIMINATED CONFUSING RATE PLANS, CONVERGING INTO ONE RATE PLAN: UNLIMITED. WE INTEND TO BRING THIS SAME COMPETITIVE DISRUPTION AS WE LOOK TO BUILD THE WORLD’S BEST 5G NETWORK THAT WILL MAKE THE U.S. A HOTBED FOR INNOVATION AND WILL REDEFINE THE WAY CONSUMERS LIVE AND WORK ACROSS THE U.S.” Statement fromMarcelo Claure, Sprint’s former CEO, in Sprint’s April 29, 2018 press release MORRISON & FOERSTER 2018 M&A ANNUAL REVIEW 26