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Sprint (S -1%) and Clearwire (CLWR +13.1%) are "moving closer" to a deal in which the former...

Sprint (S -1%) and Clearwire (CLWR +13.1%) are "moving closer" to a deal in which the former would buy the 49% of the latter it doesn't own, sources tell David Faber. He adds Sprint has been talking with Clearwire shareholders about buying their stakes for ~$3/share, and that a deal could be announced by year's end. Clearwire has spiked to $2.72, while MetroPCS (PCS -1%) has ticked lower. PCS was clocked last week after Reuters reported Sprint is unlikely to make a bid before its SoftBank (SFTBF.PK) deal closes. Update: The WSJ backs up Faber's report.
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Comments (2)
  • hope eternal
    , contributor
    Comments (33) | Send Message
     
    If clwr is trading around 2.70-2.75, would't a take over value the stock alot higher than $3.00? 5.00 6.00 7.00 8.00. Any ideas.
    Please help with ideas thanks
    11 Dec 2012, 02:38 PM Reply Like
  • milehr
    , contributor
    Comments (539) | Send Message
     
    Sorry, but $3 a share will not do.
    11 Dec 2012, 05:07 PM Reply Like
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