Sprint boosts Clearwire buyout offer to $5 per share, $14 billion valuation
Posted in: Today's Chili
We’re deep into a bona fide bidding war here — Sprint and Dish are both battling for an approximately 50-percent stake in Clearwire, and as of today, that former contestant’s bid makes it the new front runner. To catch you up, last month Dish offered $4.40 per share for Clearwire, following Sprint’s offer of $3.40 per share made way back in December. Now, the carrier has increased its bid to a whopping 5 bucks per share, which values Clearwire at just about $14 billion. (As you can probably imagine, CLWR’s trading price has jumped today to match that new target.) This comes just days after Sprint filed a lawsuit to prevent the other two parties from moving forward. Whether or not CLWR’s spectrum and other assets make it worth that sum is a different story, but Sprint clearly sees some solid value there.
Filed under: Wireless, Mobile, Sprint
Source: Sprint (BusinessWire)
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