Home › News ›

Sprint Ups Clearwire Bid to $2.2B, Clearwire Agrees

Article Comments

Dec 17, 2012, 8:03 AM by Eric M. Zeman

Sprint today announced that it has agreed to acquire Clearwire for $2.2 billion. Sprint initially bid $2.1 billion, or $2.90 per share, last week. Today's bid has been raised to $2.97 per share, which amounts to a $100 million increase in the total bid. Softbank, which is in the process of acquiring a 70% stake in Sprint, indicated last week that it would not approve of a bid higher than $2.97 per share. Sprint already owns 50.45% of Clearwire and is purchasing the remaining 49.55%. Other Clearwire investors, including Comcast and Intel, have agreed to the new terms and Clearwire's board has voted in favor of the acquisition. According to Sprint, the deal will put it in a better position for its LTE 4G plans moving forward, and help it to be a better competitor to AT&T and Verizon Wireless. Clearwire has vast spectrum holdings in the 2.5GHz band. The deal is subject to regulatory approval and is expected to close in the middle of 2013.

Related

TCL's New Foldable Concept Swings Both Ways

In what has become something of an annual tradition, TCL has unveiled new, unique flexible-display concepts. The newest and most unique is the "360-Degree Ultra Flex", which has a 360º hinge that allows the device to be folded either inward or outward.

Motorola Brings More Affordable 5G Phones to its 2024 Lineup

Mar 12, 2024
Motorola has announced the 2024 editions of the moto g 5G and moto g power 5G, priced at $200 and $300, respectively (MSRP, unlocked). Both phones offer 5G, a vegan leather finish on the back, 120 Hz display refresh, 50 megapixel main camera, 5,000 mAh battery, 128 GB storage (expandable), NFC, fingerprint reader (on the side), and a headset jack.

Moto Gives its Affordable g play More Value

Jan 16, 2024
Motorola is launching a new version of its affordable moto g play phone for 2024. Last year's model was popular with carriers; this year's model appears to be just as popular, with AT&T, Verizon, Cricket, Consumer Cellular, U.S.

Samsung Brings Back the FE for its Galaxy S23 Series

Oct 4, 2023
After skipping a year last year, Samsung has brought back the more affordable model of its flagship phone series with the Samsung Galaxy S23 FE. As with previous "FE" devices, this is effectively Samsung's "affordable flagship" device at $600, filling out the lineup just above the top end of the company's A-series phones.

Cricket Doubles Down on White-Label Phones

Oct 21, 2022
Cricket has started selling two new Cricket-branded phones: the Cricket Icon 4 and Cricket Innovate E 5G. While Cricket has offered many such white-label phones in the recent years, these additions bring the number of own-brand phones the company now sells to ten, possibly a record number for any US carrier.

more news about:

Comments

This forum is closed.

This forum is closed.

No messages

Page 1 of 1