Dish Makes Competitive Bid for Clearwire
Jan 8, 2013, 7:12 PM by Eric M. Zeman
Dish Network today complicated Sprint's plans to buy out Clearwire by making a bid of its own. Specifically, Dish made a bid of $3.30 per share, which is 10% more than the $2.97 per share offered by Sprint. Dish said it looks forward to working with Clearwire to make the transaction work. Sprint issued a response, saying, "Sprint believes its agreement to acquire Clearwire, which offers Clearwire shareholders certain and attractive value, is superior to the highly conditional Dish proposal. The Dish proposal would require Sprint to voluntarily waive rights that it holds as a stockholder of Clearwire and that it possesses through various vendor and customer contracts that significantly predate Sprint’s proposed acquisition of the remainder of Clearwire. Sprint does not intend to waive any of its rights and looks forward to closing the transaction with Clearwire and helping consumers across the country realize the benefits of this combination." SoftBank, which is in the process of acquiring a 70% stake in Sprint, forbade Sprint from paying more than $2.97 per share for Clearwire -- a price that some Clearwire investors feel is too low. Sprint owns more than 50% of Clearwire.
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Comments
| Subject | Author | Date |
| This got a lot more complicated | johnhr2 |
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| It's a match made in heaven.... | WhySoBluePandaBear |
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