Sprint Boosts Clearwire Bid, Topping Dish
Sprint, which bid $3.40 per share for Clearwire back in May, raised that buyout offer to $5 on Thursday afternoon.
The bid, which tops Dish’s offer of $4.40 a share by 14 percent, values the broadband wireless company at $14 billion.
Clearwire’s board promptly endorsed Sprint’s new terms, withdrawing its support for Dish’s bid and postponing a June 24 shareholder vote until July 8. Said CEO Erik Prusch, “The $5-per-share transaction with Sprint represents the best path forward for the company and is in the best interest of our unaffiliated stockholders.”