WSJ: Clearwire to endorse Dish’s offer, push back vote on Sprint deal (updated)
Posted in: Today's Chili
Well, it looks like Sprint’s letter to Clearwire Corp. didn’t adequately trash Dish Network. According to The Wall Street Journal, a special committee of Clearwire’s board will push back a shareholder vote on Sprint’s deal this Thursday and recommend that the full board endorse Dish’s buyout proposal. Needless to say, that would put a sizable wrench in Sprint’s plans to fully acquire the spectrum provider. The carrier already owns nearly half of Clearwire, and if Dish gets its way, it will become a major minority shareholder in the company. Whatever happens next, likely won’t end the drawn-out bidding war, though; Sprint has already claimed that Dish’s offer can’t legally be accepted without its consent. As always, stay tuned.
Update: Dish just formally announced the extension of its tender offer to Clearwire, pushing back the original June 28th date to July 2nd. Skip past the break for the full release.
Filed under: Cellphones, Wireless, Mobile, Sprint
Via: All Things D
Source: The Wall Street Journal
