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Sprint offers $2.1 billion in Clearwire takeover bid

Published Dec 13th, 2012 8:15AM EST
Sprint Clearwire Acquisition Offer

A number of reports on Wednesday claimed that Sprint (S) was cooking up an offer to acquire the remaining shares of wireless broadband wholesaler Clearwire, and the company has just made a formal bid. Reuters on Thursday reports that Sprint has offered $2.90 a share, or $2.1 billion, for the 48.3% of Clearwire Sprint does not already own. The offer represents a 5% premium over Clearwire shares as of Wednesday’s close, and the deal would value Clearwire at $4.2 billion. If the bid is accepted, it would only occur following Softbank’s successful purchase of a 70% Sprint stake, and it would also need regulatory approval, of course.

Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.