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Sprint Agrees to $120M Clearwire Break-Up Fee

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Dec 18, 2012, 10:21 AM   by Eric M. Zeman
updated Dec 18, 2012, 10:23 AM

Updated: removed Sprint network expansion part of the story.

Sprint today disclosed that it has agreed to pay Clearwire $120 million if its proposed $2.2 billion take-over of the company falls through. The deal is dependent on Sprint's 70% stake sale to Softbank. The deal also still needs to be approved by Clearwire's minority shareholders and government regulators. Clearwire can terminate the agreement and collect the $120 million if the acquisition does not close by October 15 of next year. Last, Clearwire is not allowed to shop around for better offers. Sprint's offer of $2.97 per share is half the share price some Clearwire investors sought for the company.

more info at Reuters »

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I feel this needs a through review with Congressional Hearings Versed Dec 18, 2012, 10:47 AM
 
 
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