Items tagged with NYSE: S.N

by Jennifer Johnson - Mon, Dec 17, 2012

Clearwire To Sell Remainder of Company To Sprint Nextel Corp for $2.2B

Sprint and Clearwire have reached an agreement whereby Sprint will purchase roughly half of Clearwire for $2.2 billion (approximately $2.97 per share). After the transaction is complete, Sprint will have full ownership of Clearwire. The announcement comes days after Clearwire shareholders said a $2.90 per share offer from Sprint was too low. With the spectrum it will acquire from Clearwire and its own spectrum, Sprint will be in a better position to compete in the wireless market. Sprint CEO Dan Hesse said Sprint is in a position to "maximize the value of Clearwire’s spectrum" and deploy it to increase the wireless carrier's network capacity. Sprint will utilize Clearwire’s... Read more...