Ka’ena Corporation and T-Mobile US (NASDAQ: TMUS) have announced that they have entered into a definitive agreement pursuant to which T-Mobile will acquire Ka’ena Corporation and its subsidiaries and brands: Mint Mobile, a successful direct-to-consumer (D2C) prepaid wireless brand in the US; Ultra Mobile, a unique wireless service offering international calling options to communities across the country; and wholesaler Plum. T-Mobile will pay up to a maximum of US$1.35 billion in a combination of cash and stock. Following the deal’s close, Mint's founders David Glickman and Rizwan Kassim will remain onboard at T-Mobile to manage the brands, which will generally operate as a separate business unit. Owner Ryan Reynolds will continue on in his creative role on behalf of Mint.
Latham & Watkins LLP represents Ka’ena Corporation in the transaction with a corporate deal team led by New York partner Robert Katz and Bay Area partner Saad Khanani, with associates Ross Liemer, Brian Umanoff, Mack Weber, Josh Barkow, and Junda Yu. Advice was also provided on tax matters by Chicago partner Rene de Vera, with associate Christopher Ohlgart; on benefits and compensation matters by New York partner Jennifer Pepin, with associates Anne Bracaglia and Ryan Maamoun; on antitrust matters by Washington, D.C. partners Makan Delrahim and Farrell Malone and Washington, D.C. counsel Tara Tavernia, with associate Alex Kandalaft; on FCC regulatory matters by Washington, D.C. partner Jim Barker; on intellectual property matters by New York partner Jeffrey Tochner, with associates Sebastian Moss and Pelin Serpin; on data privacy matters by Houston/Austin counsel Robert Brown, with associate Kathryn Parsons-Reponte; on labor matters by Chicago partner Nineveh Alkhas; and on capital markets matters by Orange County partner Drew Capurro.