Sprint bids $2.1 billion for Clearwire buyout

Sprint bids $2.1 billion for Clearwire buyout

Sprint has formally offered $2.1 billion for the remaining 48.3 percent of Clearwire stake, according to Reuters. Pending acceptance and regulatory approval, Sprint will end up paying $2.90 per share for the deal, a slight premium over the closing price from yesterday. The transaction is expected to finalize only after Softbank’s purchase of a majority share of Sprint.

Sprint owns more than 50 percent of Clearwire and the bid for the rest values the total company at around $4.2 billion. Cash-strapped Clearwire, which also counts Sprint as its biggest customer, has long been seen by analysts as an acquisition target for Sprint.

Reuters

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Scott Webster
Scott Webster 6607 posts

Scott has been running AndroidGuys since 2007 and loves nothing more than reading up on the latest smartphone rumors. His other mobile efforts can be found on Android Update (CNET) where he covers Google's mobile platform.

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