Sprint S today announced that it has entered into a definitive
agreement to acquire the approximately 50 percent stake in Clearwire
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
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in