clearwire

Sprint Nextel has filed a lawsuit against Dish Network and Clearwire seeking to prevent Dish's takeover of the wireless broadband provider.

The No. 3 wireless carrier filed a lawsuit Monday against the two companies in Delaware Court of Chancery, alleging that Dish's tender offer violates the rights of Sprint and Clearwire's shareholders and the laws of the state of Delaware. The lawsuit seeks to prevent Clearwire from accepting Dish's tender offer, as well as other injunctive and compensatory relief.

"Dish has repeatedly attempted to fool Clearwire's shareholders into believing its proposal was actionable in … Read more

Clearwire's board has recommended its shareholders accept Dish Network's takeover offer over a rival bid by majority owner Sprint Nextel.

The wireless broadband provider announced Wednesday that its special committee had unanimously recommended Dish's offer of $4.40 per share in cash. Clearwire has scheduled a special meeting of stockholders for June 24, where a vote on Dish's offer is planned.

Dish welcomed the decision, asserting that its proposal offered the best value to Clearwire shareholders.

"We appreciate Clearwire's recognition of the superior value that our tender offer provides to its shareholders," Dish … Read more

Sprint is firing off some legal salvos in its effort to stop Dish Network from acquiring Clearwire.

In a letter sent today to Clearwire's board of directors, Sprint said that Dish's acquisition proposal lacks sufficient legal grounds as certain provisions run afoul of the Clearwire Equityholders' Agreement (EHA) or of Delaware state law.

Specifically, Dish's demand for an agreement to choose at least three of Clearwire's board members and have the authority to veto certain Clearwire actions violates the EHA or Delaware law. Further, Dish's proposal asks Sprint, which already owns half of Clearwire and … Read more

Clearwire has decided to delay its shareholder vote on Sprint's takeover proposal in order to review Dish Network's surprise revised offer.

The wireless broadband provider had initially scheduled a special shareholders meeting for Friday to hold a vote on the proposal, but the company announced Thursday it had rescheduled the meeting for June 13. While the company said it has not changed its recommendation that shareholders accept the current Sprint bid of $3.40 per share, Clearwire said Dish's revised proposal "appears to be more actionable than Dish's previous proposal."

Dish upped its ante in the bidding war … Read more

Dish Network has upped the ante in its bid to acquire Clearwire, an escalation of its bidding war with Sprint Nextel over the wireless broadband provider.

A week after Sprint boosted its offer to $3.40 a share for the 50 percent of the company it does not currently own, the satellite TV provider countered on Wednesday with an offer of $4.40 per share in cash, a 29 percent premium over Sprint's offer. Dish will officially tender the offer before the Clearwire shareholders meeting on Friday, where a vote on Sprint's offer is planned.

Sprint announced in … Read more

Clearwire is taking Glass Lewis to task as the proxy advisory firm continues to contest Sprint's acquisition bid, just days before a shareholder vote on the deal.

On Tuesday, Glass Lewis painted Clearwire a bit like a desperate damsel batting its eyelashes at white knight Sprint in its latest report on the offer. But Clearwire says the advisory firm doesn't know what it's talking about.

Its recommendation against the upped $3.40-per-share Sprint offer used "superficial analysis" that "contained numerous inaccuracies," the wireless broadband company said in a statement.

"The report also … Read more

Just a day after Sprint upped its bid to acquire Clearwire, the latter's board has said that it's the right deal for the company.

In a statement released Wednesday, Clearwire's board announced that it has approved the new deal with Sprint. The board has also asked shareholders to vote in favor of the acquisition when they meet to place their ballots on May 31.

Sprint made a surprising announcement Tuesday, saying that it would up its initial offer to buy the remaining 50 percent of Clearwire that it doesn't own from $2.97 per share to $… Read more

LAS VEGAS -- Sprint's sweetened bid for Clearwire represents its "best and final" offer, Sprint CEO Dan Hesse told CNET on the sidelines of the CTIA Wireless show here Tuesday.

"You can take that to the bank," he said.

Sprint earlier today raised its offer for Clearwire to $3.40 a share, valuing the company at $10.7 billion. The offer is a substantial premium over its original $2.97 a share offer, and 10 cents a share more than Dish Network's competing bid for Clearwire.

Clearwire shareholders had been agitating for a better … Read more

Sprint has decided that it doesn't want to let Clearwire out of its sights.

The company on Tuesday announced that it has revised its $2.97-per-share offer for Clearwire to $3.40 per share. The increased offer represents a 14 percent increase from Sprint's previous offer, valuing Clearwire at $10.7 billion. More importantly, it's 10 cents higher than the $3.30-per-share offer made by Dish.

Sprint already owns about 50 percent of Clearwire. The company had previously said that its offer was superior to the one Dish brought to Clearwire earlier this year, and Clearwire's board agreed. … Read more