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Dish Calls Sprint's Lawsuit 'Transparent'

Jun 18, 2013, 11:09 AM by Eric M. Zeman
updated Jun 19, 2013, 2:53 PM

Dish Networks today offered a response to the lawsuit filed against it by Sprint. According to Dish, the lawsuit is a weak attempt on Sprint's part cover up the fact that its offer for Clearwire is inferior. "Sprint's lawsuit is a transparent attempt to ... exploit its majority position to block Clearwire's shareholders from receiving a fair price for their shares. Dish is confident that its superior offer, which has been unanimously recommended by the Clearwire Board, including the majority appointed by Sprint, will be upheld and Clearwire shareholders will be free to realize the 29% premium represented by the Dish offer." Sprint initially bid $2.90 per share for the portion of Clearwire that it does not already own, but later raised its bid to $2.97 per share and finally $3.40 per share. Dish then followed with its own offer of $4.40 per share. Clearwire's board of directors recently agreed that Dish's proposal is superior, but Sprint claims the offer is illegal and not actionable. Sprint and Dish have been trading barbs since the fight for Clearwire began.

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Versed

Jun 18, 2013, 11:19 AM

If Sprint was Smart, which they aren't.

If they were smart, Sprint would drive get top dollar for its holdings (majority) in Clear, like more then what Dish is asking, sell it all and bank it, then when Dish goes belly up, buy it all back at 10c on the dollar, along with their crappy sat tv business.

crossedsignals

Or simply slice and dice up Clearwire with Dish: Offer Dish Clearwire's spectrum licenses in the boonies and keep the metro licenses for themselves. That would achieve Sprint's goal of using Clearwire's high frequency spectrum in densely populated a...
(continues)

crossedsignals

Jun 18, 2013, 7:56 PM

Pretty simple to me

Sprint asserted its interpretation of the shareholder agreement and Delaware incorporation law. Clearwire's board didn't see it the same way (by virtue of acceptance of Dish's revised offer) and now Sprint is suing to get a referee to figure out who's right.

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