Last week, we reported that Sprint formed a committee to review Dish Network’s unsolicited proposal. Dish Network made a $25.5 billion bid to acquire Sprint in early April in an effort to outbid SoftBank. Dish Network’s offer is a 13% premium on SoftBank’s deal. Today Sprint announced that they have received a waiver from SoftBank.
The waiver makes it possible for Sprint and their representatives to enter a non-disclosure agreement and discussions with Dish regarding the proposal that was made on April 15, 2013. The waiver does not actually allow Sprint to enter negotiations with Dish or provide non-public information.
Sprint will be assessing whether Dish’s proposal will lead to a better offer than SoftBank. SoftBank can also raise the price of their bid throughout this whole process.