Click to Skip Ad
Closing in...

Sprint offers $2.1 billion in Clearwire takeover bid

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 has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.

Popular News