Sprint (S) Forms Committee to Evaluate Unsolicited DISH Networks (DISH) Bid
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Sprint (NYSE: S) is said to have set up a committee to evaulatethe $25.5 billion offer from DISH Networks (Nasdaq: DISH).
The WSJ noted this afternoon that Sprint is also in the process of tapping an investment bank to advise on the unsolicited offer.
DISH's bid comes as Japan's SoftBank made a $20 billion offer last year for 70 percent of Sprint. One investor supporting DISH is John Paulson, of Paulson & Co., who believes the DISH bid would provide more value to shareholders.
SoftBank affirmed recently that it plans to close its own offer within a few months unless the committee determins otherwise.
Shares of Sprint are down 0.8 percent.
The WSJ noted this afternoon that Sprint is also in the process of tapping an investment bank to advise on the unsolicited offer.
DISH's bid comes as Japan's SoftBank made a $20 billion offer last year for 70 percent of Sprint. One investor supporting DISH is John Paulson, of Paulson & Co., who believes the DISH bid would provide more value to shareholders.
SoftBank affirmed recently that it plans to close its own offer within a few months unless the committee determins otherwise.
Shares of Sprint are down 0.8 percent.
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