Dish tops Sprint's bid for Clearwire ahead of vote

Satellite TV operator Dish Network has raised its bid for Clearwire Corp., valuing the wireless network operator at $6.9 billion, in an attempt to outbid Sprint Nextel Corp. two days before Clearwire shareholders are meeting to vote on a deal.

Dish's bid of $4.40 in cash per share is 29 percent higher than Sprint's bid of $3.40 per share. Sprint wants to buy the half of Clearwire that it doesn't already own.

Dish's previous offer, from January, was for $3.30 per share.

Dish Network Corp. chairman Charlie Ergen said in a statement that Clearwire's —space on the airwaves—is key to Dish being able to deliver future services.

Dish has also offered to buy Sprint.

Clearwire shares are up 22 percent to $4.23 in after-hours trading.


Explore further

Dish Network makes $5.15B bid for Clearwire

© 2013 The Associated Press. All rights reserved.

Citation: Dish tops Sprint's bid for Clearwire ahead of vote (2013, May 30) retrieved 16 July 2019 from https://phys.org/news/2013-05-dish-tops-sprint-clearwire-vote.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more