Sprint Seals the Deal in Clearwire Buyout for $2.2 Billion

Discussion in 'Android News' started by dgstorm, Dec 17, 2012.

  1. dgstorm

    dgstorm Editor in Chief Staff Member Premium Member

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    Last week we shared that Sprint was planning to finish buying out a full 100% stake in Clearwire, their wireless broadband partner. At the time, Sprint already owned a 51% stake in the company and wanted to complete a full takeover so they can utilize Clearwire's spectrum holdings as they see fit. Sprint originally offered Clearwire's remaining shareholders a $2.1 Billion dollar bid for the company. Several of these shareholders moved to hinder the deal because they wanted to hold out for more. As it turns out, they weren't holding out for much more. Sprint and Clearwire announced the full 100% buyout deal will now go through for $2.2 Billion dollars. Here's a quote with a few more details,

    Of course, this deal is still not 100% set in stone. It is contingent upon regulatory approval, and it will only happen if SoftBank's proposed 70% acquisition of Sprint goes through. This deal also has to jump through some regulatory hurdles as well. Deals within deals... the corporate way.

    Source: SlashGear
     
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