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So what: The deal values Clearwire at $2.97 per share and represents a 12% discount to its closing price on Monday. While the price is $0.07 "sweeter" than the bid made by Sprint last week, it's largely a disappointment for Clearwire shareholders, who were holding out for a much better deal.
Now what: The transaction is expected to close in mid-2013. "Today's transaction marks yet another significant step in Sprint's improved competitive position," said Sprint CEO Dan Hesse. "Sprint is uniquely positioned to maximize the value of Clearwire's spectrum and efficiently deploy it to increase Sprint's network capacity." So while Clearwire shares are likely all popped out, Sprint's bolstered airwave access might help drive outsized gains over time.
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