Sprint Gets SoftBank Permission to Explore DISH Bid

Sprint Nextel (NYSE: S  ) has received the go-ahead from SoftBank to obtain more information from DISH Network (NASDAQ: DISH  ) regarding its merger proposal of April 15, Sprint announced today.

SoftBank is the Japanese telecom that last fall agreed to purchase a 70% slice of Sprint for $20 billion. The DISH counteroffer is for $25.5 billion. Sprint announced last week that it had formed a "special committee" to review DISH's unsolicited offer.

Sprint received the waiver from SoftBank on the condition that the company not disclose any non-public information to DISH during their talks and not enter into negotiations with the satellite pay-TV provider.

The U.S. carrier said it does not intend to make any further statements about the DISH proposal until it assesses whether that offer is or could be superior to SoftBank's merger agreement.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2394288, ~/Articles/ArticleHandler.aspx, 9/16/2014 7:53:40 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement