Clearwire Board Reverses Course, Recommends DISH Offer

Clearwire's (UNKNOWN: CLWR.DL  ) board of director's has unanimously recommended stockholders accept DISH Network's (NASDAQ: DISH  ) tender offer of $4.40 a share for all outstanding Clearwire shares, the company announced yesterday.

Clearwire's board also unanimously recommended stockholders vote against the previously recommended $3.40-a-share offer from Sprint Nextel  (NYSE: S  ) .

The special stockholders' meeting to vote on Sprint's proposal scheduled for today has been rescheduled for Monday, June 24. The DISH offer is subject to various conditions, including the tender of more than 25% of Clearwire's voting stock. DISH's offer is good until midnight July 2.

Sprint said late Wednesday that it will review Clearwire's statement and any subsequent filings with regulators before determining its next steps.

-- Material from The Associated Press was used in this report.


Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2488289, ~/Articles/ArticleHandler.aspx, 9/22/2014 10:27:28 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement