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Sprint announces plans to acquire 100% stake in Clearwire

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In line with earlier reports, Sprint (S) on Monday announced plans to acquire the remaining stake it did not already own in wireless broadband wholesaler Clearwire (CLWR). Sprint’s offer came in just north of earlier reports claiming the company would bid $2.90 per share, or $2.1 billion, which would value Clearwire at $4.2 billion. Sprint’s final bid came in at $2.97 per share, or $2.2 billion, and it pushes Clearwire’s valuation to $4.5 billion plus another $5.5 billion of net debt and spectrum lease obligations. The deal is subject to regulatory approval and to shareholder approval, and is expected to close next year. Sprint’s full press release follows below.

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About Nicholas Maithya

I am a writer focussing on disruptive technology, Fintech, Big Data and Internet of Things, Online Marketing trends, and investments. When I am not writing about these, I am probably in the gym working out, out and about with family, watching the news (basically business/technology) or soccer. That's why I do sometimes cover soccer-related stories.

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