UPDATE: DISH Announces Proposed Merger with Sprint for $25.5B
DISH Network Corporation (NASDAQ: DISH) today announced that it has
submitted a merger proposal to the Board of Directors of Sprint Nextel
Corporation (NYSE: S) for a total cash and stock consideration of $25.5
billion. The DISH proposal clearly represents superior value to Sprint
shareholders, including greater ownership in a combined company that is
better positioned for the future with more spectrum, products,
subscribers, financial scale and new opportunities.
DISH is offering Sprint shareholders a total consideration of $25.5
billion, consisting of $17.3 billion in cash and $8.2 billion in stock.
Sprint shareholders would receive $7.00 per share, based upon DISH's
closing price on Friday, April 12, 2013. This consists of $4.76 per