Dish Network makes offer for Sprint - WRCBtv.com | Chattanooga News, Weather & Sports

Dish Network makes offer for Sprint

Posted: Updated:

NEW YORK (AP) - Dish Network is offering to buy Sprint Nextel Corp. in a cash-and-stock deal it values at $25.5 billion, saying its bid is superior to that of Japanese phone company SoftBank.

Sprint's stock jumped in premarket trading Monday.

Dish, an Englewood, Colo. satellite television company, said that its transaction includes $17.3 billion in cash and $8.2 billion in stock.

Sprint stockholders would receive $7 per share, which is a 13 percent premium to its Friday closing price of $6.22. This includes $4.76 per share in cash and 0.05953 Dish shares per Sprint share.

Softbank is seeking approval from U.S. authorities for its $20 billion purchase of a 70 percent stake in Sprint Nextel Corp. that would be Japan's biggest foreign acquisition ever.

Dish Network Corp. said that its offer is a 13 percent premium to the existing SoftBank proposal.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Powered by WorldNow
Can't find what you're looking for?

WRCB-TV
900 Whitehall Road
Chattanooga, TN 37405
(423) 267-5412

WRCB Jobs EEO | FCC Public Files

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WRCB. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.