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For Sprint (S -0.4%) to acquire the 48% of Clearwire (CLWR +14.5%) it doesn't own, it needs the...

  • Thursday, December 13, 2012, 6:11 PM ET
    For Sprint (S -0.4%) to acquire the 48% of Clearwire (CLWR +14.5%) it doesn't own, it needs the support of shareholders representing over half of non-Sprint-owned shares. That could be tough without a higher bid, given activist investors Mount Kellett and Crest Financial own 14% of Clearwire, and continue to argue Clearwire is worth more. But the fact Clearwire is saddled with over $4.2B in debt and has a major 4G LTE buildout ahead of it gives Sprint some leverage. Stifel:  "It’s Sprint or nobody ... [Clearwire is] losing money hand over fist." (previous: I, II)
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This news story has 5 comments:

  •  
    Or read the opinion of Joan Lappin published today at Forbes:

    "Sprint's Hesse Underbidding For Clearwire, Still Hopes Shareholders Can Be Duped"
    http://onforb.es/SXIVUW

    It's NOT Sprint or nobody at this price. Won't be either when it's done. It might not be Sprint, it won't be a nobody, and it won't be at this price.
    13 Dec 2012, 06:30 PM Reply Like
  •  
    What you wish for and what you get might be two different things. I think Hesse has Clearwire by the short and curly's. Should be interesting next couple days.
    13 Dec 2012, 10:22 PM Reply Like
  •  
    I won't sell my 10,000 shares for any less that $4!
    14 Dec 2012, 02:58 AM Reply Like
  •  
    The fact that CLWR is currently trading over Sprint's 2.90/share offer is pretty good evidence that most shareholders believe it's a lowball bid.
    14 Dec 2012, 03:11 AM Reply Like
  •  
    Clearwire ,has one ace in the hole I believe.Through the 2nd quarter and a very huge capital partnership. Market cap more than Softbank and more stable. If times get tough they may have Clearwire's back /////////////////////////
    14 Dec 2012, 03:34 AM Reply Like
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