Dish Network offers US$25.5 billion to merge with Sprint Nextel. For the offer, Sprint-Nextel shareholders would be receiving US$7.00 per share broken down as US$4.76 paid up front cash and stock. This is a 32% premium over previous offers.
Should the merger push through, the new entity would provide an industry leading portfolio that can offer fully integrated, bundled in and out of home video, broadband and voice call services.
According to Dish Network Chairman Charlie Ergen, "The DISH proposal clearly presents Sprint shareholders with a superior alternative to the pending SoftBank proposal. Sprint shareholders will benefit from a higher price with more cash while also creating the opportunity to participate more meaningfully in a combined DISH/Sprint with a significantly-enhanced strategic position and substantial synergies that are not attainable through the pending SoftBank proposal."
He added, "A transformative DISH/Sprint merger will create the only company that can offer customers a convenient, fully-integrated, nationwide bundle of in- and out-of-home video, broadband and voice services. Additionally, the combined national footprints and scale will allow DISH/Sprint to bring improved broadband services to millions of homes with inferior or no access to competitive broadband services. This unique, combined company will have a leadership position in video, data and voice and the necessary broadband spectrum to provide customers with rich content everywhere, all the time."
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