AAPL Stock: 118.3 ( + 0.49 )

Printed from

Sprint increases Clearwire bid, receives unanimous board approval

updated 04:48 pm EDT, Thu June 20, 2013

New bid eclipses Dish offer, shareholder date shifted

In response to Dish Network's latest $4.40 per share bid for Clearwire, Sprint Nextel grew its offer for the company to $5 per share. The move was immediately responded to by Clearwire changing its recommendation in favor of the newest offer, and signaled a shareholder vote for July 8, versus the old date of June 24.

Sprint, the majority shareholder of the company, drew criticism from other shareholders for its initial offer, which was decried as too low even before Dish's counteroffer. SoftBank is said to be hoping to build upon Sprint's current spectrum position, with a view to acquiring more spectrum and acquiring smaller carriers at a later time.

A statement from the carrier received by Reuters reads that the board of Sprint "looks forward to receiving the FCC and shareholder approvals which will allow us to close in early July and begin the hard work of building the new Sprint into a meaningful third competitor in the US market." As part of this, Sprint will be able to save in equipment purchases through SoftBank, along with the network expertise.

by MacNN Staff



Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Ultimate Ears Megaboom Bluetooth Speaker

Ultimate Ears (now owned by Logitech) has found great success in the marketplace with its "Boom" series of Bluetooth speakers, a mod ...

Kinivo URBN Premium Bluetooth Headphones

We love music, and we're willing to bet that you do, too. If you're like us, you probably spend a good portion of your time wearing ...

Jamstik+ MIDI Controller

For a long time the MIDI world has been dominated by keyboard-inspired controllers. Times are changing however, and we are slowly star ...


Most Commented