Clearwire said its board and the board’s special committee...
Clearwire said its board and the board’s special committee approved Sprint Nextel’s revised offer to buy full control of the company, and recommend shareholders vote for the deal. Sprint submitted its “best and final offer” for Clearwire Tuesday, revising its…
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bid to $3.40 per share for a total of about $2.5 billion (CD May 22 p17). The revised offer, “when compared with other potential transactions reasonably available to the Company at this time, is the most favorable potential transaction to the Company’s unaffiliated stockholders,” Clearwire said in a Wednesday news release (http://bit.ly/10mjm07). The company also rescheduled its shareholder vote on the revised deal to May 31, saying a scheduling conflict would prevent the company from holding the vote May 30 as previously announced.