View Count: 211 |  Publish Date: May 22, 2013
Clearwire board approves higher Sprint offer
The Associated PressPosted: Wednesday, May 22, 2013, 10:31 AM
BELLEVUE, Wash. - Clearwire wants to accept a richer buyout offer made by Sprint this week and is recommending that shareholders vote in favor of it.
Sprint upped its bid by 14 percent to $2.5 billion Tuesday for the wireless data network operator.
Some shareholders have opposed the deal, including Crest Financial, which spurned the latest bid as well.
Sprint Nextel Corp. is offering $3.40 per share for the half of Clearwire Corp. that it does not already own. Its previous offer, from December, was for $2.97 per share.
Clearwire said Wednesday that shareholders will be able to vote on May 31. Only shareholders of record as of April 2 are eligible.
Sprint, based in Overland Park, Kansas, is Clearwires only major wholesale customer, and uses its network to provide Sprint 4G service.The Associated Press #post2 .pw-icon.ra1-pw-icon-reddit {background: url() 0px 0px no-repeat !important;width: 60px !important;height: 20px !important;margin-right:8px;}#post2 .pw-icon.ra1-pw-icon-email {background: url() 0px 0px no-repeat !important;width: 71px !important;height: 28px !important;}

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