Telecom & Wireless
Clearwire Still Looking Over Offer from Dish Network
Published:
Last Updated:
Clearwire also said that it continues to review the “unsolicited, non-binding” proposal from Dish Network Corp. (NASDAQ: DISH), which offers $3.30 a share with a lot of strings attached.
One of those strings is related to Sprint’s financing agreement for Clearwire, which was to provide the wireless carrier with $80 million a month for 10 months. Clearwire did not take the first draw on the funds in January because Dish Network threatened to withdraw its offer if Clearwire did so. A withdrawal certainly would have fired up a multitude of legal actions.
Clearwire continues to recommend approval of the Sprint acquisition although it also continues its review of the company’s options. But because Sprint already owns slightly more than 50% of Clearwire, other shareholders may not have much leverage.
Clearwire’s shares are up about 1.6% in premarket trading this morning, at $3.23 in a 52-week range of $0.83 to $3.41.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
