Dish Network offering to buy Sprint in $25.5B deal

ENGLEWOOD, Colo. - Colorado-based Dish Network is offering to buy Sprint Nextel Corp. in a cash-and-stock deal it values at $25.5 billion, saying its bid is superior to that of Japanese phone company SoftBank.

Sprint's stock jumped in premarket trading Monday.

Dish, an Englewood satellite television company, said that its transaction includes $17.3 billion in cash and $8.2 billion in stock.

Sprint stockholders would receive $7 per share, which is a 13 percent premium to its Friday closing price of $6.22. This includes $4.76 per share in cash and 0.05953 Dish shares per Sprint share.

Softbank is seeking approval from U.S. authorities for its $20 billion purchase of a 70 percent stake in Sprint Nextel Corp. that would be Japan's biggest foreign acquisition ever.

Dish Network Corp. said that its offer is a 13 percent premium to the existing SoftBank proposal.
 

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