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Top shareholder advisory firm ISS backs Sprint's (S -0.1%) $2.97/share offer for Clearwire (CLWR... (S)

Top shareholder advisory firm ISS backs Sprint's (S -0.1%) $2.97/share offer for Clearwire (CLWR -0.9%) ahead of a May 21 vote, in spite of opposition from major shareholders not named Sprint. ISS' arguments: Sprint's offer is fair, the carrier has effective veto power on any rival bid, and Clearwire looks "increasingly unviable on a stand-alone basis." SoftBank (SFTBF.PK) must be pleased, Dish (DISH) less so. Clearwire has sold off over the last 2 days, but still remains 9% above Sprint's offer price. (previous)
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