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CLWR Clearwire Corp. - Class A (MM)

4.99
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
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

Clearwire Backs Increased Sprint Offer Worth $5 A Share

20/06/2013 8:07pm

Dow Jones News


Clearwire Corp. - Class A (MM) (NASDAQ:CLWR)
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   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 Year Clearwire Corp. - Class A (MM) Chart

1 Month Clearwire Corp. - Class A (MM) Chart

1 Month Clearwire Corp. - Class A (MM) Chart

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