Thursday, June 20, 2013

Sprint Raises its Bid for Clearwire by $5/Share

Sprint increased its bid to acquire the approximately 50 percent of Clearwire it does not currently own (the “minority stake”) by $5.00 per share, valuing Clearwire at approximately $14 billion, or about $0.30 per MHZ-pop.


The new offer represents a 47 percent premium to Sprint’s previous offer of $3.40 per share announced on May 21, 2013 and a 285 percent premium to Clearwire's closing share price on Oct. 10, 2012, the day before the Sprint-SoftBank discussions were first confirmed in the marketplace and Clearwire was speculated to be a part of that transaction. This offer also represents a 14 percent premium to the $4.40 per share DISH tender offer.

Sprint said the sweetened offer demonstrates its commitment to closing the Clearwire transaction and improving its competitive position in the U.S. wireless industry. 

http://www.sprint.com

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