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.
Independent merchant-banking firm Berenson & Company said that it appointed Keith Cowan as a senior advisor. Cowan was most recently president of strategic planning at Sprint Nextel.
Bloomberg reported that Sprint Nextel replaced a $2.2 billion revolver with a new deal arranged by JPMorgan and Citigroup. Bloomberg noted that the new facility expands the borrowing capacity by $600 million.