As previously reported, Dish Network announced a proposal on Monday to merge with Sprint Nextel in a deal worth $25.5 billion. According to Dish, the offer is a 13% premium over the pending acquisition by SoftBank announced last year.

In a letter to Sprint Nextel Chairman of the Board, James Hance, Jr., Dish chairman Charlie Ergen wrote, “We are offering Sprint shareholders a total consideration of $25.5 billion, consisting of $17.3 billion in cash and $8.2 billion in stock. Sprint shareholders would receive $7.00 per share, based upon DISH’s closing price on Friday, April 12, 2013. This consists of $4.76 per share in cash and 0.05953 DISH shares per Sprint share. The cash portion of our proposal represents an 18% premium over the $4.03 per share implied by the SoftBank proposal, and the equity portion represents approximately 32% ownership in the combined DISH/Sprint versus SoftBank’s proposal of a 30% interest in Sprint alone. Together this represents a 13% premium to the value of the existing SoftBank proposal.”

“Our proposal provides a highly-compelling and unique opportunity for Sprint shareholders,” he continued. “We are offering an ownership interest in a combined company with a comprehensive product and services suite, a significantly enhanced subscriber base, considerable financial and operating scale, as well as a spectrum portfolio that would lead the industry. As a result, this merger creates sizable cost and CAPEX savings and promises extensive new revenue opportunities.”

You can read the letter in its entirety here.

Dish held a conference call this morning discussing the proposal.

The boards of both Sprint Nextel and Softbank approved the $20.1 billion deal back in October, but the companies noted it was still subject to shareholder and regulatory approval. The deal was expected to close in mid-2013.

It’s already half way through April, but today’s news gives all parties involved some major new things to consider.