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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Clearwire Corp. - Class A (MM) | NASDAQ:CLWR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.99 | 0 | 01:00:00 |
By Ben Fox Rubin
Clearwire Corp. (CLWR) said its special committee reversed its recommendation backing Dish Network Corp.'s (DISH) tender offer for the company, unanimously backing a raised offer from Sprint Nextel Corp. (S) worth $5 a share.
Sprint, which is Clearwire's majority owner, had previously raised its bid for Clearwire in May to $3.40 a share. A day before Clearwire's shareholders were to vote on that deal, Dish raised its own offer to $4.40 a share.
Clearwire had recommended shareholders accept the Dish offer, though Sprint sued Dish soon after, claiming Dish's tender offer violates corporate law in the state of Delaware, where Clearwire is incorporated.
A Dish spokesman didn't have any immediate comment.
Clearwire shares were halted at $4.78.
Write to Ben Fox Rubin at ben.rubin@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Clearwire Corp. - Class A (MM) Chart |
1 Month Clearwire Corp. - Class A (MM) Chart |
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