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 ETFor 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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