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Clearwire Shareholders Sign Off on Sprint Takeover

by Brandon Russell | July 8, 2013

sprint

Clearwire shareholders on Monday approved a deal with Sprint, allowing the carrier to purchase the remaining Clearwire shares for $5 a share; Sprint previously owned almost 50 percent of Clearwire. Approval should be finalized on Tuesday, July 9, putting an end to a longwinded saga in which the two companies sparred over the remaining shares since last year.

Sprint’s acquisition is actually separate from the carrier’s discussions with Softbank, which are said to be concluding on Wednesday. Earlier this year, Dish actually went up against Sprint for Clearwire’s remaining shares, driving the price up in the process—Dish even offered to buy Sprint, too. But talks eventually broke down; Sprint wound up raising its offer to Clearwire from nearly $3 a share to $5.

The FCC recently gave approval for a complete Sprint/Softbank/Clearwire merger, so this story likely isn’t over and done with quite yet. If all goes according to plan, the Sprint-Softbank merger should be finalized for a cool $21.6 billion.

CNET

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Brandon Russell

Brandon Russell enjoys writing about technology and entertainment. When he's not watching Back to the Future, you can find him on a hike or watching...Brandon Russell enjoys writing about technology and entertainment. When he's not watching Back to the Future, you can find him on a hike or watching...


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