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Softbank Sets Max Bid Sprint Can Make for Clearwire

Dec 14, 2012, 8:08 AM by Eric M. Zeman

Softbank has set a cap on how much Sprint can offer Clearwire in its take-over bid, reports Reuters. Citing people familiar with the situation, Reuters says Softbank won't let Sprint bid more than $2.97 per share for Clearwire. Sprint's initial offer was $2.90 per share, with the deal valued at $2.1 billion. This leaves Sprint little wiggle room with which to negotiate in its hoped-for takeover of Clearwire. Sprint already owns 51% of Clearwire and wants to purchase the remaining 49%. At the same time, Clearwire's investors have indicated that Sprint's $2.90 offer is far too low. Speaking to Reuters, a handful of investors said a per-share price of $5 to $8 would be more acceptable, which is far above the cap set by Softbank. Softbank is in the process of acquiring a 70% stake in Sprint, a separate deal valued at $20.1 billion. None of the companies involved commented on Reuters' story.

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WhySoBluePandaBear

Dec 15, 2012, 2:36 AM

To the CEO of Clear....

Your company is dog ****, with a capital "S".

You've been NOTHING but a burden on Sprint - much like Nextel.

$5 a share is a slap in the face to the sugar daddy that has kept your **** company alive. Show some respect. I hope Sprint pimp smacks you in the face and lets you and your fail WiMax go under.

I then hope your spectrum gets re-farmed for whole sale prices.

Love Panda.

Jayshmay

Dang! You said it!

marufio

Exactly what Softbank told Sprint.

melrhodes

😳 🤣

Versed

Dec 14, 2012, 12:38 PM

How's This?

Dear Softbank, you don't own me yet, there hasn't been any approvals yet, so, kiss off.

newfoneguy

Lol. Yeah but.... they want Softbank to buy them and if They directly do something Softbank doesnt want like let's say get yourself into even more debit by paying an extra 2+ billion dollars more then you can already afford.

...

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