Dish Network Corp has lined up four banks to finance its $25.5 billion bid for Sprint Nextel Corp, escalating the bidding war against Japanese telecom company SoftBank Corp, according to two people familiar with the matter. Dish, run by billionaire founder Charlie Ergen, is working with Barclays Plc, Macquarie Group, Jefferies and the Royal Bank of Canada to help finance around $9 billion in debt needed for the offer, the people said on Wednesday.The U.S. satellite company is still finalizing details and has yet to commit to the financing package being put together by the banks, one of the people said.On Tuesday, Dish said it was raising $2.5 billion in a bond deal to help fund the proposed offer. The remaining $6.5 billion in financing would be in the form of bank loans and syndicated through the participating banks, the people said.The people asked not to be named because the matter is not public. Barclays and Macquarie declined to comment. Jefferies and RBC could not be reached for comment.
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Shares of BCS traded higher by 1.51% or $0.29/share to $19.51. In the past year, the shares have traded as low as $9.23 and as high as $20.60. On average, 3113330 shares of BCS exchange hands on a given day and today's volume is recorded at 1790547.
DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH traded higher by 0.93% or $0.36/share to $39.20. In the past year, the shares have traded as low as $26.12 and as high as $40.34. On average, 3176820 shares of DISH exchange hands on a given day and today's volume is recorded at 1669714.
Royal Bank of Canada (RBC) is a diversified financial services company. Shares of RY fell by 1.04% or $-0.63/share to $59.86. In the past year, the shares have traded as low as $46.80 and as high as $64.08. On average, 620357 shares of RY exchange hands on a given day and today's volume is recorded at 587644.
Royal Bank of Canada (RBC) is a diversified financial services company. Shares of RY fell by 0.96% or $-0.59/share to $60.94. In the past year, the shares have traded as low as $48.70 and as high as $64.92. On average, 2553100 shares of RY.TO exchange hands on a given day and today's volume is recorded at 2286333.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S fell by 0.14% or $-0.01/share to $7.25. In the past year, the shares have traded as low as $2.32 and as high as $7.40. On average, 62102400 shares of S exchange hands on a given day and today's volume is recorded at 43053212.
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