NEW YORK -- Dish Network ( DISH) is proposing to merge with Sprint Nextel ( S) in a $25.5 billion deal.
Sprint, the No. 3 U.S. wireless carrier, had agreed to be acquired by Softbank Corp. of Japan. Dish is offering to pay $7 a share for Sprint -- $4.76 in cash and about $2.24 in Dish stock. Sprint shares were up more than 10% in premarket trading on Monday.