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Sprint Issues Statement: Says Its Offer 'Superior to Highly Conditional DISH Proposal'

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Sprint (NYSE: S) today issued the following statement in response to Clearwire's (NASDAQ: CLWR) announcement that a special committee of Clearwire's board of directors is considering a proposed transaction from DISH.

“Sprint believes its agreement to acquire Clearwire, which offers Clearwire shareholders certain and attractive value, is superior to the highly conditional DISH (NASDAQ: DISH) proposal.

“In contrast, the DISH proposal includes a series of interdependent commercial agreements, debt and equity purchases and spectrum sales, which together with the other conditions required by DISH to complete the transaction, makes the proposal not viable. In addition, the DISH proposal would require Sprint to voluntarily waive rights that it holds as a stockholder of Clearwire and that it possesses through various vendor and customer contracts that significantly predate Sprint's proposed acquisition of the remainder of Clearwire. Sprint does not intend to waive any of its rights and looks forward to closing the transaction with Clearwire and helping consumers across the country realize the benefits of this combination.”

Posted-In: News M&A

 

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