SoftBank Corp.’s three-way merger with Sprint Nextel Corp.and Clearwire Corp. won final approval from U.S. regulators on Wednesday with unanimous backing from the Federal Communications Commission, people familiar with the matter said.
SoftBank Corp.’s chief executive took a moment to bask in the glow of his all-but-certain acquisition of both Sprint Nextel Corp. and its prized asset Clearwire, telling investors he will now try to create the world’s largest company.
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.