Clearwire’s Board of Directors has approved a revised offer from
Sprint to acquire a remaining 50% stake in the company. Sprint had
previously offered $2.97 per share, or $2.2 billion, for the wireless broadband wholesaler. After several shareholders voiced their concerns about the sale, Sprint decided to
raise its offer to $3.40 per share. The revised bid valued
Clearwire at $10.7 billion and represented a 14% premium over the original bid. The board is recommending shareholders vote in favor of the acquisition when they meet on May 31st. Clearwire’s press release follows below.
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