April 15, 2013 / 10:40 AM / 4 years ago

Dish offers to buy Sprint for $25.5 bln

1 Min Read

April 15 (Reuters) - Dish Network Corp offered to buy Sprint Nextel Corp for $25.5 billion in cash and stock, a move that could thwart Sprint's proposed acquisition by Japan's SoftBank Corp.

Dish said it would pay $4.76 per share in cash and about 0.05953 in Dish stock, a premium of roughly 12 percent to Sprint's close on Friday.

Sprint agreed in October to sell 70 percent of its shares to SoftBank for $20 billion.

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