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Softbank Sets Max Bid Sprint Can Make for Clearwire

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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.

more info at Reuters »

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To the CEO of Clear.... WhySoBluePandaBear Dec 15, 2012, 2:36 AM
How's This? Versed Dec 14, 2012, 12:38 PM
 
 
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