Dish Makes $25.5B Offer for SprintDeal would trump existing agreement with SoftBank 4/15/2013 07:47:34 AM Eastern
Charlie Ergen finally answered all the speculation
surrounding his recent moves to acquire giant piles of cash on Monday,
launching an unsolicited $25.5 billion bid for wireless giant Sprint Nextel.
In a statement issued early Monday morning, Dish said it
would offer $7 per share in cash and stock for the third largest wireless
player in the U.S., consisting of $4.76 in cash and stock (0.059 Dish shares
per Sprint share) representing about 32% in the combined company.
According to Dish, the deal will consist of $17.3 billion in
cash and $8.2 billion in stock. Dish said it will fund the cash portion of the
deal with $8.2 billion of cash on hand and additional debt financing. Barclays
is serving as financial adviser to Dish.