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Sprint (S) files suit to end Dish's (DISH) $4.40/share tender offer for Clearwire (CLWR),...

Sprint (S) files suit to end Dish's (DISH) $4.40/share tender offer for Clearwire (CLWR), alleging the deal (endorsed by Clearwire last week) violates Delaware law and the rights of Sprint and other "strategic" Clearwire investors. Among other things, Sprint claims the Dish offer can't be concluded without the approval of both Comcast and Clearwire shareholders owning at least 75% of shares (Sprint has a majority stake). Clearwire investors aren't bothered, shares +0.4% AH to $4.65. (previous: I, II)
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Comments (3)
  • milehr
    , contributor
    Comments (545) | Send Message
     
    Clearwire has Sprint in a chokehold.
    17 Jun 2013, 08:47 PM Reply Like
  • bd4uandu
    , contributor
    Comments (1808) | Send Message
     
    I bought Dish stock last week just because I like the way Charlie is playing this. I have heard he is quite the card player.
    17 Jun 2013, 10:11 PM Reply Like
  • Eddie B
    , contributor
    Comments (25) | Send Message
     
    Sounds like Sprint is trying to keep Clearwire from acting in the best interest of its shareholders.... This would be a violation of Clearwire's boards fiduciary responsibility and open them up to lawsuits. Sprint is just trying to muddy up the waters to act in the best interest of it's own CEO and Board Members at the expense of Clearwire... Sounds like management of Sprint is trying to fatten up managements' golden parachutes and if so, this attempt should be referred to the SEC.... for criminal and civil charges..
    18 Jun 2013, 06:50 AM Reply Like
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