logo
  Join        Login             Stock Quote

Clearwire (CLWR) Continues To Review Dish Offer, Recommends Sprint Deal

 February 01, 2013 07:39 AM
 


(By Mani) Clearwire Corp. (NASDAQ: CLWR) said it continues to review the offer from Dish Network Corp. (NASDAQ: DISH), yet it is still recommending the current deal with Sprint Nextel Corp. (NYSE: S).

The statement from Clearwire suggests that it would be tough for Dish to win over the Clearwire board over its $3.30 per share proposal. Meanwhile, Clearwire said Dish's unsolicited offer is only a "preliminary indication of interest", and that its board will "engage DISH to discuss and evaluate the proposal."

"We continue to believe that the DISH proposal is illusory and conditioned on many things, including the receipt of governance rights, a spectrum sale and a commercial agreement which are not actionable under our merger agreement and other agreements between Clearwire and Sprint," Sprint said in a statement.

After a rigorous and extensive two-year process, Clearwire pursued numerous strategic opportunities, including discussing the sale of spectrum with no fewer than 10 parties and a series of ongoing conversations with Dish that date back to 2010.

Sprint, which already has a 50.8 stake in Clearwire, agreed in mid-December to buy the remaining 49.2 percent stake in Clearwire for $2.97 per share or a total of $2.2 billion.

Sprint said Clearwire's proxy makes very clear that Sprint's definitive agreement to acquire Clearwire provides both the best value for shareholders and stability amid an uncertain future.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.