Clearwire Corp's share values hovered above the current bid price of US$2.97 of Sprint Nextel on the day shareholders meet to decide on whether to accept or reject the deal. This current value may mean further improvements in the tabled offer before actual decision time comes.
Clearwire was at US$3.22 per share in mid morning trading in New York, which places it 8.4% above the Sprint buyout offer.
Spring for its part owns more than half of Clearwire, is seeking to acquire all other shares it does not already own in the amount of US$2.2 billion. Since December, when the Sprint-Clearwire deal was forged, Dish comes up with a US$3.30 per share deal, but this has been kept at bay because of the majority ownership of Sprint. As of the moment, there are no indications a modification of the Sprint deal is in the offing as Clearwire's board continues to recommend the acceptance of the tendered deal.
Sprint needs to get the majority of Clearwire's Class A shareholders to agree in order to gain control of the remaining 49%. The move would then close down the venture with Clearwire whose purpose was to build a nationwide wireless Internet network.
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