Business

Dish tops Sprint’s bid for Clearwire ahead of vote

Posted May 30, 2013 7:14 am

Associated Press

ENGLEWOOD, Colo. — Satellite TV operator Dish Network has raised its bid for Clearwire Corp., valuing the wireless network operator at $6.9 billion, in an attempt to outbid Sprint Nextel Corp. two days before Clearwire shareholders are meeting to vote on a deal.

Dish’s bid of $4.40 in cash per share is 29 percent higher than Sprint’s bid of $3.40 per share. Sprint wants to buy the half of Clearwire that it doesn’t already own.

Dish’s previous offer, from January, was for $3.30 per share.

Dish Network Corp. chairman Charlie Ergen said in a statement that Clearwire’s wireless spectrum — space on the airwaves — is key to Dish being able to deliver future services.

Dish has also offered to buy Sprint.

Clearwire shares are up 22 percent to $4.23 in after-hours trading.

Article Comments

Article Categories
Business

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.