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.
Charles Ergen’s maneuvering just cost rival SoftBank Corp. $1.5 billion by forcing it to raise its offer for Sprint Nextel Corp. But the question remains, is that a victory for the Dish Network Corp. chairman, or a defeat?
Sprint Nextel Corp. raised objections over Dish Network Corp.’s tender offer to acquire Clearwire Corp., saying the bid is “not actionable,” continuing the complicated drama over control of the mobile broadband provider that is majority-owned by Sprint.
A prominent proxy adviser said Sprint Nextel shareholders should vote for a $20.1 billion acquisition by SoftBank, but set aside the more contentious question of whether the deal is better than a rival proposal from satellite-television operator Dish Network.