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Clearwire board rejects Sprint offer in favor of Dish Network bid


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#1 OFFLINE   Athlon646464

Athlon646464

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Posted 13 June 2013 - 06:08 AM

Update: Clearwire board rejects Sprint offer in favor of Dish Network bid
 
Well, it looks like Sprint's letter to Clearwire Corp. didn't adequately trash Dish Network. According to The Wall Street Journal, a special committee of Clearwire's board will push back a shareholder vote on Sprint's deal today and recommend that the full board endorse Dish's buyout proposal. Needless to say, that would put a sizable wrench in Sprint's plans to fully acquire the spectrum provider. The carrier already owns nearly half of Clearwire, and if Dish gets its way, it will become a major minority shareholder in the company. Whatever happens next, likely won't end the drawn-out bidding war, though; Sprint has already claimed that Dish's offer can't legally be accepted without its consent. As always, stay tuned.
 
Update: Dish just formally announced the extension of its tender offer to Clearwire, pushing back the original June 28th date to July 2nd. 
 

1 HR34-700, 1 C31-700, 1 HR24-500
Original install on April 20, 2008 - HR34 & C31 installed on August 24, 2013 - HR24 installed on July 23, 2010

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