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Clearwire Investor Escalates Battle with Sprint

Apr 11, 2013, 7:39 AM by Eric M. Zeman

Crest Financial, an investor that opposes Sprint's proposed take-over of Clearwire, took firmer steps towards preventing the deal from taking place. Crest filed a preliminary proxy statement with the Securities and Exchange Commission that will be used to urge Clearwire stockholders to reject the proposed merger. Crest has argued for months that Sprint's offer significantly undervalues Clearwire's worth. Sprint initially offered $2.91 per share, but later raised its offer to $2.97 per share. Sprint's maximum offer was limited by Softbank, the Japanese carrier that is in the process of acquiring a 70% s take in Sprint.

Proxy (PDF) »

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bobc74

Apr 11, 2013, 6:26 PM

Wouldn't it be funny

if this Crest financial group is success at preventing Sprint's bid. The next logical step would be for Sprint to pull all it's financial support, which will probably lead to Clearwire's bankruptcy. Then Sprint can swoop in and pay even less for Clearwire in bankruptcy court!

freek1989

true but people greed wont let them see thier path 😈 😈 😉

marufio

Sprints always involved in some kind of mess.

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