Mobile

Clearwire Committee to Back Dish’s Offer, Delay Sprint Vote

Published on June 12, 2013
by Sharon Terlep and Thomas Gryta

A special committee of Clearwire Corp.’s board is planning to push back a Thursday shareholder vote and recommend the full board endorse a tender offer from Dish Network Corp., according to a person familiar with the situation, a move that would shun an earlier takeover agreement with majority owner Sprint Nextel Corp.

Despite the expected endorsement, the struggle for control of the mobile broadband provider is likely to continue amid a clash between Sprint and Dish over whether Clearwire can grant certain governance rights to Dish as part of its tender offer. Given Sprint’s stake, Dish is seeking to become a major minority shareholder in Clearwire.

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