A surprise bid from Dish, the second-largest satellite television provider, to purchase wireless company Sprint has emerged. The offer has thrown a wrench into a Japanese bank’s plan to buy Sprint.
The $25.5 billion buyout offer came Monday in response to the offer from SoftBank, a Japanese company that was hoping to buy Sprint. Dish says its offer is more favorable for Sprint stockholders, which could result in a bidding war with SoftBank.
Dish says its offer was to pay $4.76 per share in cash
and about 0.05953 shares in Dish stock for each Sprint share that it bought. Dish says it’s offering more than SoftBank by about 13 percent, and that Sprint shareholders would own more of the combined company than they would under the SoftBank offer.
Thus far, Sprint has only said it would evaluate the offer.
See the full story at Reuters.