It’s a small step, but in the right direction as far as Dish Network is concerned. The satellite company says that it received a non-disclosure agreement from Sprint Nextel, which makes it easier for the companies to share private information that might strengthen Dish Network’s offer. The Sprint board’s Special Committee examining the unsolicited $25.5B offer – designed to top SoftBank’s $20B acquisition proposal — says that it is “reviewing this offer in good faith,” according to Dish. Company Chairman Charlie Ergen adds that he’s “confident that the Sprint board will share our view that this proposal is superior.” A combination with Sprint “will benefit from synergies and growth opportunities estimated at $37 billion in net present value that are not attainable through the pending SoftBank proposal.” The company’s financial adviser Barclays says that it’s confident it can raise the cash. Dish shares are down 1.4% in after hours trading, potentially wiping out the gain it made during the trading day.
By DAVID LIEBERMAN, Financial Editor | Monday April 29, 2013 @ 5:19pm EDTTags: Big Deals TV, Dish Network, Sprint, Sprint Nextel
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This article was printed from http://www.deadline.com/2013/04/sprint-approves-dish-network-effort-to-move-ahead-with-takeover-plan/