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Sprint Agrees to $120M Clearwire Break-Up Fee

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

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.

Reuters »

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Versed

Dec 18, 2012, 10:47 AM

I feel this needs a through review with Congressional Hearings

I feel, six months worth of government hearings, congressional oversight committee hearings, public input and other sorts of "Sprint" inspired hold ups like when other communication companies wish to merge. After that goes through, we can start over again with the Softbank investigation. Ain't Red Tape Grand?

vercetti

wont happen they dont have 90mil subs. its a done deal.

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