Sprint offers $2.1 billion for the rest of Clearwire

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.

Written by: Andre Yoskowitz @ 13 Dec 2012 14:50
Sprint Clearwire spectrum
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  • jemaric

    when are we going to see that improved coverage

    15.12.2012 13:09 #1

  • empirethomas

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

    18.12.2012 21:06 #2

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