Dish Network Corp, the No. 2 U.S. satellite television provider, offered to purchase Sprint Nextel Corp for $25.5 billion in cash and stock, a move that could thwart the proposed acquisition of Sprint by Japan's SoftBank Corp.Dish's bid is the latest development in a shakeup of the U.S. wireless business, which is undergoing a wave of consolidation. Dish was already in the midst of an unsolicited offer for Clearwire Corp, the wireless company majority owned by Sprint.Dish said on Monday it would pay $4.76 per share in cash and about 0.05953 shares in Dish stock for each Sprint share. The offer, which works out to $7.00 per share, represents a premium of roughly 12 percent to Sprint's close on Friday.Dish claimed its offer represented a premium of roughly 13 percent to SoftBank's existing bid. Sprint shareholders would own 32 percent of the combined company.
DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH remained unchanged at $37.63. In the past year, the shares have traded as low as $26.12 and as high as $38.44. On average, 2558490 shares of DISH exchange hands on a given day and today's volume is recorded at 200.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S remained unchanged at $6.22. In the past year, the shares have traded as low as $2.30 and as high as $6.33. On average, 35154700 shares of S exchange hands on a given day and today's volume is recorded at 13860132.
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