Tuesday, May 21, 2013

Sprint Ups its Bid for Clearwire

Sprint announce a new bid of $3.4 per share to acquire the approximately 50 percent stake in Clearwire that it does not currently own. This values Clearwire at $10.7 billion.

Sprint's increased offer represents a 14 percent premium to Sprint’s previous offer of $2.97 announced on Dec. 17, 2012 and a 162 percent premium to Clearwire's closing share price the day before the Sprint-SoftBank discussions were first confirmed in the marketplace on Oct. 11, 2012 when Clearwire was also speculated to be a part of that transaction.

Sprint said this offer represents its "best and final offer."


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