Monday, May 6, 2013

Clearwire's Board Favors Sprint's Acquisition Bid


Clearwire's Board of Directors is recommending to the company's stockholders that the proposed acquisition by Sprint is the best strategic alternative for the company, representing "fair, attractive and certain value, especially in light of the company's limited alternatives and the well-known constraints of its liquidity position."


Clearwire's board noted that the $2.97 per share offered by Sprint represents a substantial premium to the price received by other sophisticated investors in recent transactions. For example, Google received $2.26 per share for its Clearwire Common Stock on March 1, 2012, and Time Warner received $1.37 per share for its Clearwire Common Stock on October 3, 2012.

http://www.clearwire.com

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