Proxy advisory firm recommends Sprint's offer for Clearwire over Dish's bid; Sprint responds
0. phoneArena 10 May 2013, 09:53 posted on
Proxy advisory firm ISS has recommended that Clearwire shareholders vote in favor of Sprint's offer to purchase the remaining 49% of the company that the carrier doesn't already own; while Sprint's bid is valued at $2.97 a share, Dish Network is offering $3.30 for Clearwire. However, considering that Sprint already owns a majority of Clearwire's stock, the Dish Network offer could be extremely difficult to get past a stockholder vote...
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1. Eclectech (Posts: 217; Member since: 01 May 2013)
I've been saying this all along. Sprint already controlled 51% of Clearwire's shares plus Clearwire was borrowing money from them. There was no way Dish was going to be able to snatch Clearwire out of Sprint's grasp, which is why Dish is now trying to make this highly leveraged buyout for Sprint, which stinks because a lot of debt will be held by both companies were it to succeed.