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Dish Network wants to merge with Sprint for $25.5 billion

Dish proposes merger with Sprint to the tune of $25.5 billion

| Business, Financial & Legal News | Posted: Apr 15, 2013 4:29 pm

Dish Network has submitted a proposal to Sprint's Board of Directors that aims to see the two companies merge. Dish has offered up $25.5 billion for Sprint, which is higher than the offer on the table by SoftBank. "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."

 

TweakTown image news/2/9/29717_1_dish_network_wants_to_merge_with_sprint_for_25_5_billion.jpg

 

Charlie Ergen, Chairman of DISH Network:

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.

 

Dish expects growth opportunities of around $37 billion and $11 billion in cost savings. Now Sprint will have to decide whether to take SoftBank's deal or Dish Network's deal. Both have their own benefits: SoftBank has lots of cash and Dish has lots of spectrum reserve. We'll let you know when Sprint comes to a decision.

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