Clearwire Receives Bid From Sprint: Why Now?
Sprint announced this morning through a regulatory filing that its board had authorized management to engage Clearwire in merger discussions where Sprint would acquire the 49% of Clearwire it does not already own for $2.90 per share in cash, or approximately $2.1 billion in aggregate.
The proposed transaction is intended to qualify as a “Qualifying Purchase” under Clearwire Corporation (NASDAQ:CLWR)'s Equityholders’ Agreement. As such, it will need approval of a majority of the directors on Clearwire Corporation (NASDAQ:CLWR)'s board . . .
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