Satellite TV provider Dish Network proposed a $25.5 billion merger with Sprint Nextel this morning in a bid to drive out competition from Japanese carrier Softbank, which in October offered $20 billion to take a 70 percent stake in the cellphone company.
Dish Network's offer consists of $17.3 billion in cash and $8.2 billion in stock. Sprint shareholders would get $7 per share, based upon Dish's closing price on Friday.
"Sprint is in play," Dish Network chairman Charles Ergen told The Wall Street Journal.
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