PRoxy Firm ISS Backs Sprint (S) Bid for Clearwire (CLWR); Not All Agree
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Clearwire (Nasdaq: CLWR) is lower in early trading after shareholders received mixed this morning on the proposed Sprint merger.
ISS said shareholders should vote in favor of Sprint Nextel's (NYSE: S) $2.97 per share bid for Clearwire, while large Clearwire holder Crest Financial offered the opposite suggestion. Crest actually launched a proxy contest this week.
ISS thinks Sprint's offer is fairly valued, while Clearwire seems to be ""increasingly unviable on a stand-alone basis."
Sprint currently owns 52 percent of Clearwire.
ISS said shareholders should vote in favor of Sprint Nextel's (NYSE: S) $2.97 per share bid for Clearwire, while large Clearwire holder Crest Financial offered the opposite suggestion. Crest actually launched a proxy contest this week.
ISS thinks Sprint's offer is fairly valued, while Clearwire seems to be ""increasingly unviable on a stand-alone basis."
Sprint currently owns 52 percent of Clearwire.
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