360° Coverage Sprint Buys Clearwire
Filed under: News | Technology News
Sprint Buys Clearwire
Sprint takes full control of Clearwire.
Dec 17 2012, 6:44am CST | by Luigi Lugmayr
Sprint today announced that it has entered into a definitive agreement to acquire the approximately 50 percent stake in Clearwire (NASDAQ: CLWR) it does not currently own for $2.97 per share,...
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New Sprint Offer Not Enough for Clearwire Investor
Source: Daily Finance
Clearwire's largest minority stockholder, Crest Financial, is still urging other shareholders to vote against Sprint Nextel's proposed buyout of their company, even after Sprint raised its bid, according to Crest's f ...
Full article at: Daily Finance
More like this 26 minutes ago
Quote:
"DISH is currently also in a battle with Softbank to acquire Sprint Nextel and Clearwire spectrum. That leads me to believe DISH is just getting started. I think we can expect to see DISH making several more moves and we should expect to see some major changes as the company transforms over the next few years if Ergen wins these battles"
Source: PRWeb
Crest urges 'no' vote on Sprint's latest Clearwire offer
Source: Seattle Business Journal
Crest Financial is urging shareholders to vote against Sprint's latest offer for Clearwire Corp. Crest Financial Limited, which owns more than 8 percent of Clearwire Corp. stock, is urging stockholders vote "no" on Sprint ...
Full article at: Seattle Business Journal
More like this 6 hours ago
Crest Supplements its Proxy Statement Opposing Revised Terms for Sprint-Clearwire Merger
Source: Street Insider
HOUSTON, May 23, 2013 /PRNewswire/ -- Crest Financial Limited, the largest independent minority shareholder of Clearwire Corporation (NASDAQ: CLWR) with approximately 8.25% of the Class A common stock of Clearwire, today filed a supplement to its ...
Full article at: Street Insider
More like this 19 hours ago, 6:41pm CDT
Clearwire Board Says 'Yes' to Sprint's Revised Bid
Source: LightReading.com
BELLEVUE, Wash. -- Clearwire Corporation (NASDAQ: CLWR) (âClearwireâ or the âCompanyâ) today announced that its Special Committee of the Board of Directors and its Board of Directors have each approved the ...
Full article at: LightReading.com
More like this 1 day ago, 10:22am CDT
Report: Sprint could pay $1B to rip out Huawei's kit from Clearwire's network
Source: Fierce Wireless
If Japan's SoftBank wins control of Sprint Nextel (NYSE:S), it has pledged to remove network gear from Huawei that Clearwire (NASDAQ:CLWR) uses in its network, a step that, according to a Wall Street Journal article, could cost up ...
Full article at: Fierce Wireless
More like this 1 day ago, 9:56am CDT
Sprint Buys Clearwire
Sprint today announced that it has entered into a definitive agreement to acquire the approximately 50 percent stake in Clearwire (NASDAQ: CLWR) it does not currently own for $2.97 per share, equating to a total payment to Clearwire shareholders, other than Sprint, of $2.2 billion. This transaction results in a total Clearwire enterprise value of approximately $10 billion, including net debt and spectrum lease obligations of $5.5 billion.
The transaction consideration represents a 128 percent premium to Clearwire's closing share price the day before the Sprint-SoftBank discussions were first confirmed in the marketplace on October 11, with Clearwire speculated to be a part of that transaction; and, a 40 percent premium to the closing price the day before receipt of Sprint’s initial $2.60 per share non-binding indication of interest on November 21.
Clearwire’s spectrum, when combined with Sprint’s, will provide Sprint with an enhanced spectrum portfolio that will strengthen its position and increase competitiveness in the U.S. wireless industry. Sprint’s Network Vision architecture should allow for better strategic alignment and the full utilization and integration of Clearwire’s complementary 2.5 GHz spectrum assets, while achieving operational efficiencies and improved service for customers as the spectrum and network is migrated to LTE standards.
Sprint CEO Dan Hesse said, “Today’s transaction marks yet another significant step in Sprint’s improved competitive position and ability to offer customers better products, more choices and better services. Sprint is uniquely positioned to maximize the value of Clearwire’s spectrum and efficiently deploy it to increase Sprint’s network capacity. We believe this transaction, particularly when leveraged with our SoftBank relationship, is further validation of our strategy and allows Sprint to control its network destiny.”
Via Sprint.
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Luigi Lugmayr
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.
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