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Sprint (S) reportedly feels no pressure to increase its $2B, $2.97-a-share offer for Clearwire...

Sprint (S) reportedly feels no pressure to increase its $2B, $2.97-a-share offer for Clearwire after Dish (DISH) proposed $3.30, and thinks a bidding war is unlikely. Despite Sprint owning just over 50% of Clearwire, the latter is duty bound to consider the offer from Dish, which might receive support from Crest Financial, Clearwire's second-largest shareholder with 8% and a vocal critic of the Sprint bid.
Comments (2)
  • zorro2828
    , contributor
    Comments (552) | Send Message
     
    50% plus equals control...this is a headline... Nothing more!
    10 Jan 2013, 06:00 AM Reply Like
  • AggGrow
    , contributor
    Comments (191) | Send Message
     
    That's true, but it still doesn't preclude shareholder suits, especially when other offers, frivolous as they may be, are coming in. Sprint surely does not need to feel pressure from Dish, and there certainly will not be a bidding war. However, Sprint is going to need to reconsider the number. I believe it will - maybe meet Crest halfway or something like that. If it does not, it will still prevail, but the badwill will dog them for years to come and will cost them far more in the long run.
    10 Jan 2013, 11:08 AM Reply Like
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