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.It was also the boldest step yet by Dish Chairman Charlie Ergen, who has bought billions of dollars worth of wireless spectrum in the last few years and has been seeking some sort of deal to make use of the airwaves.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 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 19213.
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 $6.22. On average, 49449500 shares of S exchange hands on a given day and today's volume is recorded at 58196676.
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