Dish makes $25.5B bid for Sprint, setting up showdown with Softbank
Dish Network has offered $25.5 billion to buy 68 percent of Sprint Nextel, countering Japanese operator Softbank's $20.1 billion deal to buy 70 percent of the third-largest U.S. operator.
Per Dish's proposal, Sprint shareholders would receive $7 a share, consisting of $4.76 in cash and stock representing about 32 percent of the combined company, vs. 30 percent under the Softbank deal. That equates to $17.3 billion cash and $8.2 billion stock, according to Bloomberg. Dish said the total offer represents a 13 percent premium on the Softbank deal, which Sprint and Softbank announced last October.
On a conference call with analysts and media Monday morning, Dish Chairman Charlie Ergen said while cable companies can provide video in the home and wireless carriers can deliver video to consumers on the go, no one company can combine both experiences. "There really is no one company on national scale that puts it all together," Ergen said. "The new Dish/Sprint company will do that." Article