Eighty-two percent of Clearwire’s minority shareholders voted to...
Eighty-two percent of Clearwire’s minority shareholders voted to approve Sprint Nextel’s bid to buy the company at $5 per share, Clearwire said Monday. Including Sprint and SoftBank-affiliated shareholders, shareholders holding 95 percent of all Clearwire stock voted in favor of…
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the deal (http://bit.ly/1biXWZB). Sprint’s successful Clearwire buyout followed a bidding war with Dish Network, which had also been in a bidding war with SoftBank to buy majority control of Sprint. Dish withdrew its $4.40-per-share offer for Clearwire in late June, clearing the way for Sprint’s offer to move forward (CD June 27 p18). Sprint, which already held majority ownership of the company, will close its purchase of Clearwire Tuesday. Sprint said its own deal to sell 78 percent ownership to SoftBank for $21.6 billion will be complete after the close of business Wednesday (http://bit.ly/18ISbFf). Both purchases can now proceed because the FCC voted unanimously last week to approve them (CD July 8 p1).