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Sprint offers $2.1 billion for the rest of Clearwire

Written by Andre Yoskowitz (Google+) @ 13 Dec 2012 14:50 User comments (2)

Sprint offers $2.1 billion for the rest of Clearwire Sprint has now offered $2.1 billion to buy the rest of Clearwire that it does not own.
The carrier is the current majority owner of the company.

At $2.1 billion, the company is offering $2.90 per share. The stock jumped to $3.15 today, making it clear that shareholders expect a higher buyout. If the company agrees to the $2.90 per share offer, Sprint will also offer an $800 million bridge loan to the company that has struggled to keep available cash.

Clearwire controls significant spectrum that Sprint would use to bolster their own LTE 4G network.

Most analysts believe the deal is a lowball offer and will merely act as a "starting point" for future negotiations. Some believed ultimately the deal will close at around $3 billion, a large premium from the current offer.

Sprint is flush with cash after being purchased by Japan's Softbank earlier this year.

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2 user comments

115.12.2012 13:09

when are we going to see that improved coverage

218.12.2012 21:06

sprint isnt that bad i have at&t they suck the worest

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