Monday, April 22, 2013

UPDATED: Sprint Appoints Committee To Examine DISH Offer

Multiple sources say Sprint has accepted an offer from Dish Network to acquire the wireless telecommunications giant for $25.5 billion, with $17.3 billion payable in cash and the remaining $8.2 billion in stock.

Sprint employees were informed of the agreement via non-disclosure paperwork earlier this afternoon, but the deal still is subject to FCC approval.
There is currently no word on how the sale – if approved – would affect Sprint’s status as title sponsor of the NASCAR Sprint Cup Series.

UPDATE: Sprint Nextel has now confirmed that its Board of Directors has formed a Special Committee of independent directors to review and carefully evaluate the proposal received from DISH with its financial and legal advisors.

A release from Sprint said the Special Committee will evaluate the proposal and additional information that the committee has requested from DISH and provide its assessment to the full Board in due course whether the proposal is -- or is reasonably likely to lead to -- a Superior Offer (as defined in the Agreement and Plan of Merger with SoftBank Corp.). Neither the Board nor Sprint intends to comment further at this time.
The Special Committee consists of Larry C. Glasscock, James H. Hance, Jr., V. Janet Hill, William R. Nuti, and Rodney O’Neal. Mr. Glasscock will serve as Chairman of the Special Committee.
The special committee has retained BofA Merrill Lynch to act as its financial advisor, and Shearman & Sterling LLP as its legal counsel.
Sprint advises shareholders that they need not take any action at this time in response to DISH’s proposal pending review by Sprint’s Special Committee.



  1. Officially, Sprint said on Monday that its board had formed a special committee of independent directors to review Dish Network's offer.

  2. Anonymous4:38 PM

    I can see it now, The DISH Cup.

  3. Anonymous5:15 PM

    They already used up their one name change. Unless they are under the new deal

  4. Anonymous5:19 PM

    If it is a dish how can it be a cup?

  5. Anonymous6:21 PM

    Well ... technically a cup is a type of dish. A plate is another type of dish as well as a saucer. But calling it a Dish Cup is sort of redundantly twisted. I need to go stare into my cupboard now for awhile just to unravel this in my brain ...

  6. I know this is getting silly, but how 'bout the CUP & SAUCER?

  7. Anonymous11:13 PM

    that should b interesting with the deal set up with direct tv

  8. Dish may own Sprint in future but that doesn't mean that Dish won't continue to use the Sprint branding

  9. Anonymous5:10 AM

    When I got wind of this the first thought I had was dish wants the bandwith form the old nextel network witch sprint shut down last year, I would be suprized if nascar even entered there minds