Proxy advisory firm Egan-Jones has reversed course and given Sprint Nextel's new offer from SoftBank the thumbs-up as Sprint shareholders prepare to vote on the bid June 25. Sprint and SoftBank are sparring with DISH Network, which has also bid for Sprint, over DISH's assertion that the U.S. government needs to begin a new review of the Japanese carrier's offer because of concerns over U.S. ownership of Sprint. In a regulatory filing on Wednesday, SoftBank and Sprint said there "is no factual or legal basis" for DISH's arguments.

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