Monday, May 6, 2013

Clearwire Urges Approval of Sprint Acquisition

Kirkland-based Clearwire has a message for its stockholders: please approve the acquisition of the company by Sprint. Clearwire told its investors that the proposed buyout by Sprint is the "best strategic alternative for stockholders" particularly in light of the company's "constraints of its liquidity position". Clearwire also has a competing bid from DISH Network, a bid on its wireless spectrum from Verizon, and according to the firm's letter to shareholders, also has looked at further equity and debt financing; strategic partnerships; and bankruptcy.