Dish Network Submits a $25.5B Bid for Sprint Nextel

In this morning's First Look digest, ComputerWorld reports that Dish Network has submitted a $25.5B bid to acquire Sprint Nextel.  Dish's bid represents a $5.5B premium over Japan's SoftBank which is looking to spend $20B for a 70% stake of the struggling carrier's business.

Dish said its proposal is a superior alternative to the pending SoftBank proposal.

"Sprint shareholders will benefit from a higher price with more cash while also creating the opportunity to participate more meaningfully in a combined Dish/Sprint with a significantly enhanced strategic position and substantial synergies that are not attainable through the pending SoftBank proposal." said Charlie Ergen, chairman of Dish.

[Via ComputerWorld.com...]