In an "update transaction," released today, Clearwire said its Special Committee "has not made a decision to change its recommendation of the transaction under Sprint." However, the committee stated that it will continue to hold discussions with dishes, "where appropriate", to take a final decision.
Sprint Nextel announced last year its intention to acquire the remaining 50 percent of Clearwire it does not already own for $ 2.97 per share, or $ 2.2 billion. The company would also provide up to $ 800 million in additional funding for Clearwire to help her operation.Last months, Clearwire has received an unsolicited offer to buy assets dishes spectrum and some to acquire all the shares Clearwire's $ 3.30 per share. According to the Special Committee's proposal Dish "is a preliminary indication of interest and is subject to numerous significant uncertainties and conditions, including the negotiation of multiple contractual arrangements requested by Dish (some of which, like currently proposed, can not be permitted under current Clearwire legal and contractual obligations), as well as regulatory approvals. '
The Committee said, will forbid him to approve the transaction.
Sprint was quick to ring in the Committee's report, saying that the "filing speaks for itself."
After an extensive and rigorous two-year, Clearwire has pursued many strategic opportunities, including discussing the sale of spectrum with no less than 10 parts and a series of ongoing conversations with dishes dating back to 2010. Proxy Clearwire indicates very clearly that Sprint definitive agreement to acquire Clearwire provides both the best value for shareholders and stability in the midst of an uncertain future. We continue to believe that the proposal is illusory and DISH conditioning on many things, including the receipt of governance rights, sale of spectrum and a trade agreement that are not prosecuted under our merger agreement and other agreements between Clearwire and Sprint. We are pleased that the Council Clearwire continues to recommend approval of this transaction and we look forward to closing our merger and the provision of wireless services even greater for the American consumer....
