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Sprint Raises Clearwire Offer to $5 Per Share

Jun 20, 2013, 3:06 PM by Eric M. Zeman

Sprint today raised its bid for Clearwire from $3.40 per share to $5.00 per share, besting Dish Network's offer of $4.40 per share by 14%. Following the raised offer, Clearwire's board of directors has accepted the new bid and recommends that Clearwire's shareholders vote in favor of Sprint's proposal and not Dish's. In addition to the raised offer, Sprint also agreed to pay Clearwire a $115 million termination fee if the deal falls through under certain circumstances. According to Clearwire, Sprint's offer has the backing from a significant percentage of Clearwire's shareholders, including Comcast, Intel, and Brighthouse Networks, among others. Sprint hopes this final offer will give it the approval it needs among Clearwire's remaining investors. Earlier this week, Sprint filed a lawsuit against Dish seeking to prevent it from acquiring Clearwire after Clearwire's board recommended Dish's proposal be accepted. Dish has yet to respond to this latest move from Sprint.

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LibtardExposer

Jun 21, 2013, 9:35 AM

Kinda Smart move for Dish upping the price?

Well if Dish is trying to get in the wireless market they might be making a good move for their company making sprint up the bid for clear. The reason I say this is because in the end with soft buying out sprint (for the most part) they are going to be taking on alot of debt and if they fail well there is a chance that dish could come in at the end and buy them (not saying that it will happen just hypothetical) Who knows Dish could up their bid in the end anyways and make sprint bust their chops some more Pouring salt in the wound so to speak! I think it is funny to see how many people are crying over this Sprint crap I just sit back and watch the ship sink and someone else will gobble them up in the end it's not like the resources are going...
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KOL4420

Well Dish doesnt have the money to up their bid. They will need to borrow more money from Banks as they already have ( a negative wont turn into a positive). Softbank isnt going to fail with Sprint. They are a telecommunication giant that knows what t...
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brobert11

Jun 20, 2013, 3:31 PM
edited

Premium

That's a pretty penny over thier initial purchase offer for Clear. Sprint has increased it's offered price by 68% from the original offer amount. Ouch!!! Although, w/ the possibility of the loss of spectrum assets used to obtain thier 51% share and bailouts as well as facing the possibility of having partner w/ a less than desirable partner (Ergen), not many were options available to them. Sprint needed Clearwire's spectrum holdings sorely.

Jayshmay

Who the heck is Ergen???

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KOL4420

Its a done deal. I dont see this not going through. Specially after that lawsuit. Way overpriced for what they are getting but Sprint does need this spectrum its crucial to their vision network strategy.

cellphonesaretools

brobert11 said:
That's a pretty penny over their initial purchase offer for Clear... Sprint needed Clearwire's spectrum holdings sorely.

Step 1: Pay a ridiculous premium for Nextel, chiefly to obtain the Nextel spec...
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