Reuters: Technology News: Clearwire says Sprint offer best option for minority stockholders

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Clearwire says Sprint offer best option for minority stockholders May 6th 2013, 13:12 Tweet Share this Email Print Related News Clearwire investors team up to seek higher price Fri, May 3 2013 CORRECTED-Clearwire shareholders club together to push for better deal Fri, May 3 2013 T-Mobile shares rise in NYSE debut Wed, May 1 2013 SoftBank slams Dish's Sprint bid, rules out sweeteners Tue, Apr 30 2013 Intel CEO backs SoftBank's bid for Sprint over Dish's offer Mon, Apr 29 2013 People walk past a Sprint store in New York December 17, 2012. Credit: Reuters/Andrew Kelly Mon May 6, 2013 9:12am EDT (Reuters) - Wireless service provider Clearwire Corp said on Monday its proposed buyout by majority owner Sprint Nextel Corp was the best option for Clearwire's minority stockholders. Clearwire shares, which fell about 6 percent in an initial reaction to the statement, recovered to trade just above the closing price of $3.38 on Friday. "The Clearwire board has unanimously concluded that the proposed transaction with Sprint is the best strategic alternative for stockholders ... especially in light of the company's limited alternatives and the well-known constraints of its liquidity position," Clearwire said. Four shareholders holding about 17 percent of Clearwire's shares said on Friday they would work together to seek a better deal for the wireless service provider. Sprint offered to buy Clearwire in December for $2.2 billion but satellite TV provider Dish Network Corp announced a counterbid of $2.3 billion in January. Dish followed up in April by making a bid for Sprint. Clearwire said in February it would evaluate Dish's bid but continued to recommend Sprint's offer. (Reporting by Sayantani Ghosh in Bangalore) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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