Clearwire Board Supports Dish's Bid Over Sprint's Lower Offer

Clearwire Corp. board recommended that shareholders accept an offer of $4.40 a share from Dish Network Corp., ignoring a lower bid from its majority owner Sprint Nextel Corp.

Dish made its new offer on May 30, and since then Dish and Sprint have been arguing whether Dish's offer is actionable. Sprint claims that Clearwire's governance structure and Delaware law prohibit Clearwire from taking it up, charges that Dish has sought to rebut.

Meanwhile, Clearwire said it would postpone a June 13 shareholder vote on the Sprint bid until June 24. Dish said on Wednesday it was extending its tender offer for Clearwire shares to July 2 from a previous deadline of June 28.

Both Dish and Sprint are seeking to gain control of Clearwire's airwaves, which are used to provide high-speed Internet access. The intention to expand in the wireless industry is what pushed Dish, the second-biggest U.S. satellite-TV carrier, into the separate bidding war with SoftBank Corp. for control of Sprint.

Read more -here-

• Disney+, Hulu and Max team up for streaming bundle package
• OpenAI is reportedly working on a search feature for ChatGPT
• TikTok, ByteDance sue to block US law seeking sale or ban of app
• OpenAI partners with Stack Overflow to make models better at coding
• Dropbox breach exposes customer credentials, authentication data
• Google: Passkey authentications top 1 billion across 400 million accounts