Sprint claims illegalities in new DISH offer for Clearwire

06/3/2013 | CNET · Bloomberg · FierceWireless · MarketWatch

Sprint Nextel said today that DISH Network broke Delaware laws in its recent $4.40-a-share bid to prevent Sprint from taking full control of Clearwire. Sprint fired off a letter to Clearwire's board arguing that the bid was not "actionable" because it violated the Clearwire Equityholders' Agreement, which has legal status over Clearwire's corporate governance affairs. Also, SoftBank received a boost in its attempt to merge with Sprint when proxy advisory firm Institutional Shareholder Services recommended Friday that Sprint shareholders accept the Japanese carrier's offer.

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