A special committee of Sprint Nextel’s board...
A special committee of Sprint Nextel’s board will examine Dish Network’s $25.5 billion offer for the company, unveiled last week (CD April 16 p1), Sprint said Monday. Softbank last year agreed to buy Sprint for $20.5 billion. “The Special Committee…
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plans to 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” from Softbank, according to a news release (http://bit.ly/XRAEUR). The committee is to be chaired by Larry Glasscock, retired chairman of WellPoint, a health benefits company, and a director since 2007. Sprint board members James Hance, Janet Hill, William Nuti and Rodney O'Neal will also be on the special committee.