Crest Financial today vowed to continue its fight for a better deal from Sprint for Clearwire. Crest has opposed Sprint’s attempt to acquire the 49.5% of Clearwire it does not already own from the start. Last week, Sprint improved its offer from $2.97 per share to $3.40 per share, increasing the total amount by about […]
Sprint today submitted a revised offer for Clearwire and increased its bid from $2.97 per share to $3.40 per share, now totaling about $2.5 billion. Sprint hopes the improved offer will give Clearwire’s board and investors the incentive they need to approval the deal. Sprint is looking to purchase the 50% of Clearwire that it […]
Clearwire today sent a letter to its shareholders regarding Sprint’s take-over offer. Sprint offered to purchase the remaining 49% of Clearwire that it doesn’t already own for $2.2 billion. The offer has met with stern disapproval from several large Clearwire shareholders. In today’s letter, Clearwire explained that its board evaluated Sprint’s offer thoroughly against various […]
Aurelius Capital has thrown its hat in the ring with Crest Financial in opposing Sprint’s proposed buyout of Clearwire. Aurelius alleges that Sprint and Clearwire’s boards of directors violated their legal obligations to obtain the best possible deal for Clearwire’s minor shareholders. The company accused Sprint of dictating “manifestly unfair” terms with its $2.97 per […]
Clearwire today said that it will, for a second time, draw $80 million in financing made available by Sprint. The $80 million option was put in place as part of Sprint’s plan to acquire the portion of Clearwire that it doesn’t already own. Clearwire, which is transitioning from WiMax to LTE, needs the financing to […]
Clearwire today indicated that it will tap into $80 million in financing made available by Sprint. The $80 million option was put in place as part of Sprint’s plan to acquire the portion of Clearwire that it doesn’t already own. Clearwire, which is transitioning from WiMax to LTE, needs the financing to continue operations. Clearwire […]
Clearwire today issued a proxy statement that discusses its current state of mind with respect to the proposed acquisition offers from both Sprint and Dish Networks. Clearwire explains that in addition to paying $2.97 per share for the remaining portion of Clearwire it does not own, Sprint also committed to provide Clearwire with $800 million […]
Google has filed a request with the Federal Communications Commission seeking permission to run an experimental wireless network around its Mountain View, Calif., headquarters. The request mentions the 2524GHz to 2625GHz spectrum band, which is currently owned by Clearwire Corporation and is incompatible with the bulk of existing phones and tablets. Much of Google’s request is […]
A handful of Clearwire investors plan to reject Sprint’s $2.97-per-share offer for the company, reports Bloomberg. Glenview Capital Management and Tazzan Asset Management, which combined own about 31 million shares of Clearwire, believe the company is worth more than what Sprint has offered, especially in the light of Dish Network’s $3.30-per-share bid. Sprint, which is […]
Dish Networks today filed a request with the Federal Communications Commission asking it to pause its review (PDF) of Softbank’s proposed equity acquisition of Sprint. Dish wants issues concerning its competitive bid for Clearwire to be resolved first. Last year, Softbank, Japan’s second-largest wireless network operator, proposed to purchase a 70% stake in Sprint for […]
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