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."
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.