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Sprint to Acquire Remainder of Clearwire for $2.97/Share

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Sprint (NYSE: S) today announced that it has entered into a definitive
agreement to acquire the approximately 50 percent stake in Clearwire
(NASDAQ: CLWR) it does not currently own for $2.97 per share, equating
to a total payment to Clearwire shareholders, other than Sprint, of $2.2
billion. This transaction results in a total Clearwire enterprise value
of approximately $10 billion, including net debt and spectrum lease
obligations of $5.5 billion.

The transaction consideration represents a 128 percent premium to
Clearwire's closing share price the day before the Sprint-SoftBank
discussions were first confirmed in the marketplace on October 11, with
Clearwire speculated to be a part of that transaction; and, a 40 percent

See full press release

Posted-In: News Guidance Management M&A

 

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