Sprint sets up special committee to evaluate Dish offer

Sprint’s board of directors has set up a special committee to evaluate Dish Network’s proposed $25.5 billion acquisition, according to a report from The Wall Street Journal. The company is also said to be looking to hire an investment bank to help it assess the offer. Dish’s bid is a counter offer to Japanese carrier Softbank’s planned merger with the wireless company. Sprint’s decision to establish a special committee shows that it is at least considering Dish’s offer. Both deals involve cash-and-stock options, and while Sprint’s board had initially backed Softbank’s proposal, two significant Sprint shareholders recently voiced their support for Dish’s bid, further complicating the planned merger with Softbank.