Monday, July 8, 2013

Clearwire Shareholders Approve Sprint Takeover

A required majority of Clearwire stockholders not affiliated with Sprint or SoftBank voted to approve the deal under which Sprint will acquire all shares of Clearwire which it does not currently own for $5.00 per share.

Sprint now expects to close the transaction on Tuesday, July 9th.  Softbank's acquisition of Sprint should follow on Wednesday, July 10th.

"We are pleased that our stockholders recognize the value and merits of our merger with Sprint," said Erik Prusch, President and CEO of Clearwire. "The Clearwire team is looking forward to working closely with our counterparts at Sprint to realize the potential of our assets inherent in this combination as we integrate our two companies.