Benzinga's M&A Chatter for Tuesday June 11, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday June 11, 2013: Dole CEO Offers to Acquire Outstanding Shares for $12.00/Share The Offer:
Dole CEO David H. Murdock announced Tuesday an offer to acquire the approximately 60% of outstanding Dole shares he does not already own, for $12.00 per share in cash, plus the assumption of the Company's debt and other obligations. He has hired Deutsche Bank as an advisor on the deal. The Dole Board confirmed receipt of the proposal. Dole closed at $12.46 Tuesday, a gain of 22% on 21 times average volume. Sprint, SoftBank Amend Merger Agreement The Amended Merger Agreement:
Sprint S and SoftBank Corp. SFTBY announced Tuesday that they have amended their previously announced merger agreement. Under the amended Merger Agreement, SoftBank will deliver an additional $4.5 billion of cash to Sprint stockholders at closing, bringing the total cash consideration available to Sprint stockholders to $16.64 billion. SoftBank will acquire shares from current Sprint shareholders for $7.65 per share, up from the previous $7.30 per share. Sprint also announced Tuesday that its Special Committee and Board of Directors have determined that the DISH Network DISH offer of April 15, 2013 is not reasonably likely to lead to a “superior offer” under the Merger Agreement. Sprint closed at $7.35 Tuesday, a gain of 2.37% on 4 times average volume. Crest Financial Reiterates DISH Offer for Clearwire is Superior to Sprint Offer The Shareholder Letter:
Crest Financial Limited, the largest independent minority stockholder of Clearwire CLWR, sent a letter to Clearwire's Board of Directors reiterating its view that DISH Network's DISH tender offer for all outstanding shares of Clearwire for $4.40 per share "is both actionable and superior in every way to Sprint's S current offer of $3.40 per share." Crest noted that SoftBank's SFTBY increased bid for Sprint confirms that SoftBank's desire for Clearwire's spectrum "has only increased." Thus, Crest urged the Clearwire Board to pursue a "direct, competitive bidding process for the Company." Crest demanded that the Clearwire Board "reconstitute the Special Committee with truly independent directors and fully consider DISH's tender offer to the stockholders of Clearwire, and free the Company from Sprint's oppressive grip by terminating the merger agreement following stockholders' rejection of the Sprint-Clearwire merger on Thursday." Clearwire closed at $4.35 Tuesday, a gain of 1.87% on average volume.