Sprint Nextel has selected five people for an independent panel charged with reviewing DISH Network's $25.5 billion buyout bid. The panel members will decide whether the satellite provider's offer holds more value than Softbank's earlier $20.1 billion tender. Softbank, which said it will not increase its bid, expects its buyout to be completed by July 1, even though DISH's bid was endorsed by some top Sprint shareholders. DISH Chairman Charlie Ergen insisted that the company could handle the debt load from Sprint. "In today's market, at today's rates, it's certainly not excessive leverage," he said.

Related Summaries