Sprint (S) Details 'All-In' Bid for Clearwire (CLWR); Has $120M Termination Fee
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Sprint (S) to Acquire Clearwire (CLWR) for $2.97/Share
December 17, 2012 7:01 AM ESTSprint (NYSE: S) today announced that it has entered into a definitive agreement to acquire the approximately 50 percent stake in Clearwire (NASDAQ: CLWR) it does not currently own for $2.97 per share, equating to a total payment to Clearwire shareholders, other than Sprint, of $2.2 billion. This transaction results in a total Clearwire enterprise value of approximately $10 billion, including net debt and spectrum lease obligations of $5.5 billion.
The transaction consideration represents a 128 percent premium to Clearwire's closing share price the day before the Sprint-SoftBank discussions were first... More
