Tags: Clearwire | Holders | Dish | Offer

Clearwire Recommends Holders Accept Dish Offer

Wednesday, 12 Jun 2013 06:20 PM

The Clearwire Corp. board on Wednesday recommended a share tender offer from Dish Network over an earlier agreement with majority owner Sprint Nextel Corp. to buy out the wireless service provider's minority shareholders.

The decision is a boost for Dish Chairman Charlie Ergen, who is also in a takeover battle with SoftBank Corp. to take full control of Sprint.

Clearwire told shareholders they should accept Dish's tender offer of $4.40 per share based on the unanimous recommendation of a special committee set up by the board to evaluate the offer.

Clearwire also said its shareholders should vote against Sprint's $3.40 per share agreement to buy the more than 49 percent of Clearwire it does not already own.

Clearwire said it would postpone a June 13 shareholder vote on the Sprint bid until June 24. Dish said on Wednesday it was extending its tender offer to July 2 from a previous deadline of June 28.

Dish also said shareholders with 245,411 shares had tendered shares to Dish as of Tuesday, June 11.

Several shareholders had already said they were not happy with Sprint's offer even before Dish made its counter offer.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Companies
The Clearwire Corp. board on Wednesday recommended a share tender offer from Dish Network over an earlier agreement with majority owner Sprint Nextel Corp. to buy out the wireless service provider's minority shareholders.
Clearwire,Holders,Dish,Offer
190
2013-20-12
Wednesday, 12 Jun 2013 06:20 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved