Sprint Bid Gets Clearwire Board Approval, Awaits Stockholder Vote

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

Clearwire’s board of directors has approved Sprint’s increased offer to buy the shares of the company it doesn’t already own.

Sprint, an Overland Park, Kan.-based telecom company, has a 51 percent stake in Clearwire and will require shareholder consent to purchase the remaining shares of the Bellevue, Wash.-based broadband communications company.

Clearwire shareholders were scheduled to vote on the buyout Tuesday, but the vote was delayed when Sprint raised its offer from $2.97 a share to $3.40 a share. It has been rescheduled for May 31.

Read more from the Kansas City Star and the Kansas City Business Journal

Tags:, ,

Leave a Reply