DISH bid wins backing of Clearwire panel; vote delayed

06/13/2013 | Bloomberg · Wall Street Journal, The

Clearwire has switched sides, as a special committee on Wednesday agreed unanimously to back DISH Network's offer of $4.40 a share for shares not already owned by Sprint Nextel and shun the carrier's bid of $3.40 a share. Clearwire postponed today's scheduled shareholder vote on Sprint's offer until June 24. If successful, DISH hopes to get its hands on at least 25% of Clearwire's stock and control over some of its wireless spectrum. Sprint said it has "every intention of enforcing its governance rights" over Clearwire.

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Bloomberg · Wall Street Journal, The

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