Daily News: April 15, 2013

Dish Network Places $25.5B Bid to Buy Sprint

Reuters reported that Dish Network offered to buy Sprint Nextel for $25.5 billion in cash and stock, which could hinder the proposed acquisition of Sprint by Japan’s SoftBank Corp.

The article said Dish had already been of an unsolicited offer for Clearwire Corp, the wireless company majority owned by Sprint. According to Reuters, the satellite television provider said it would pay $4.76 per share in cash and about 0.05953 shares in Dish stock for each Sprint share. Reuters also noted that Barclays is serving as Dish’s financial advisor.

To read the entire Reuters story, click here.

Previously on abfjournal.com:

JPMorgan, Citigroup Increases Sprint Nextel Credit Line, Wednesday, March 06, 2013