Tags: Clearwire | Bid | Dish | Sprint

Clearwire Gets Unsolicited Bid From Dish, Topping Sprint’s

Tuesday, 08 Jan 2013 06:18 PM

 

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Clearwire Corp., the wireless-network operator that agreed to be bought out by Sprint Nextel Corp. last month for $2.97 a share, received an unsolicited offer from Dish Network Corp. for $3.30.

Dish has offered to acquire up to all of the outstanding shares of Clearwire, which is majority-owned by Sprint, Bellevue, Washington-based Clearwire said today in a statement. The company’s board will discuss the proposal with Dish, though it’s made no decision to reconsider the Sprint offer.

Clearwire advanced 0.7 percent to $2.92 at the close in New York. The shares gained 49 percent last year. Dish’s offer is 13 percent above Clearwire’s closing price today and 11 percent above Sprint’s bid.

Sprint decided to acquire 100 percent of Clearwire in December, after their four-year joint venture struggled to build a nationwide wireless network, leading to billions in losses for Clearwire. Sprint aims to take over Clearwire’s spectrum -- the airwaves that let mobile devices operate -- and use it to bolster its own network. Sprint Chief Executive Officer Dan Hesse said last month that the deal was “critical” to turnaround efforts at the third-largest U.S. wireless carrier.

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