Click to Skip Ad
Closing in...
  1. Best Alexa Devices
    08:06 Deals

    Amazon’s hottest smart home gadget is down to $19 today – and you can get a $4…

  2. Mattress Topper Amazon
    14:52 Deals

    35,000 Amazon shoppers gave this mattress topper 5 stars – get one for $34 today

  3. Best Selling Drones Amazon
    13:27 Deals

    Amazon has a $59 drone you can control with gestures or just your voice

  4. Amazon Echo Auto Price
    13:16 Deals

    Add hands-free Alexa to your car for $19.99 with this Amazon deal

  5. Amazon Gift Card Promotion
    11:46 Deals

    How you can get $15 from Amazon right now for free




Sprint completes purchase of Clearwire

Dan Graziano
July 9th, 2013 at 12:05 PM
Sprint Clearwire Acquisition Completed

Sprint on Tuesday announced that it has completed its acquisition of wireless wholesaler Clearwire. The FCC approved the merger last week and Clearwire shareholders voted in favor of Sprint’s offer of $5 per share on Monday. The acquisition of Clearwire will help Sprint, and new owner SoftBank, offer faster downloads speeds in more locations throughout the United States. It will also help the company better compete with AT&T and Verizon, while fending off increased competition from T-Mobile and its newly acquired MetroPCS. Sprint’s press release follows below.

Sprint Completes Acquisition of Clearwire

OVERLAND PARK, Kan. & BELLEVUE, Wash. (BUSINESS WIRE), July 09, 2013 – Sprint (NYSE: S) today announced the successful completion of its transaction to acquire 100 percent ownership of Clearwire (NASDAQ: CLWR). The merger agreement was first announced on December 17, 2012 and Clearwire shareholders approved the transaction at a special meeting of stockholders held on July 8, 2013. The transaction closed and became effective today.

At the effective time, each share of Class A common stock of Clearwire automatically converted into the right to receive $5.00 per share in cash. As a result of the completion of the transaction, the common stock of Clearwire will no longer be listed for trading on the NASDAQ stock exchange and Clearwire expects no further trading after the close of business on July 9, 2013.

Also, under the terms of the Indenture, dated as of December 8, 2010, by and among Clearwire Communications LLC, Clearwire Finance, Inc., the guarantors named therein and Wilmington Trust, National Association, as trustee (the “8.25% Notes Indenture”), the transaction constitutes a Fundamental Change for the purposes of the 8.25% Notes Indenture with an Effective Date of July 9, 2013.

Citigroup Global Markets Inc. acted as financial advisor to Sprint and Skadden, Arps, Slate, Meagher & Flom LLP and King & Spalding LLP acted as counsel to Sprint. The Raine Group acted as financial advisor to SoftBank Corp. and Morrison Foerster LLP acted as counsel to SoftBank. Evercore Partners acted as financial advisor and Kirkland & Ellis LLP acted as counsel to Clearwire. Centerview Partners acted as financial advisor and Simpson Thacher & Bartlett LLP and Richards, Layton & Finger, P.A. acted as counsel to Clearwire’s special committee. Blackstone Advisory Partners L.P. advised Clearwire on restructuring matters.




Popular News