Sprint Nextel Corporation (NYSE:S) is now locked in a legal battle with DISH Network Corp (NASDAQ:DISH), and the prize? Of course it’s Clearwire Corporation (NASDAQ:CLWR), the wireless carrier both companies have been trying to acquire for months. Sprint has now filed suit against DISH Network in an attempt to keep it from acquiring the wireless carrier, reports Bloomberg’s Jef Feeley. The suit claims that the bid from DISH Network Corp (NASDAQ:DISH) violates the rights...
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In what seems like a big setback to Sprint Nextel Corporation (NYSE:S), Clearwire Corporation (NASDAQ:CLWR)’s board has announced that it is backing DISH Network Corp (NASDAQ:DISH)’s bid over its majority stakeholder’s. The announcement came just the hours before Clearwire’s shareholders were set to vote on a Sprint takeover and was a sharp departure from the board’s earlier stance that Sprint’s bid is the better option. Clearwire now believes that Dish’s bid not only offers...
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Softbank Corp. (TYO:9984) (PINK:SFTBF) increased its bid for Sprint Nextel Corporation (NYSE:S) to $21.6 billion earlier this month, and today we learn that the shareholder advisory firm Egan-Jones Ratings Co. is now in favor of that increased bid. Egan-Jones had previously opposed the Japanese telecom company’s offer. What Changed Egan-Jones’ Mind About Softbank? Bloomberg’s Scott Moritz reports that Egan-Jones sent a report to Sprint Nextel Corporation (NYSE:S) explaining its new view on the deal....
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Clearwire Corporation (NASDAQ:CLWR)’s board dumped its merger plan with Sprint Nextel Corporation (NYSE:S) and recommended to vote in favor of DISH Network Corp (NASDAQ:DISH) higher bid on June 24. The new development puts more pressure on Sprint, which is eager to acquire rest of its stake in Clearwire. While the battle for stake in Clearwire continues, the new recommendation is a welcome move for Dish. Irrespective of outcome with Sprint Nextel Corporation (NYSE:S), Dish will pursue its wireless ambitions by...
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The board of directors of Clearwire Corporation (NASDAQ:CLWR) unanimously recommended the proposal of DISH Network Corp. (NASDAQ:DISH) to acquire all outstanding common stock of the company for $4.40 per share. In a regulatory filing with the Securities and Exchange Commission (SEC), Clearwire Corporation (NASDAQ:CLWR) encouraged shareholders to accept the offer of DISH Network Corp (NASDAQ:DISH) citing that it was “fair to and in the best interest of shareholders of Class A common stock”. The...
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The fight for Sprint Nextel Corporation (NYSE:S) seems to have taken a decisive turn away from Dish Network Corp (NASDAQ:DISH) with SoftBank’s improved bid for the carrier receiving unanimous backing from not only Sprint’s board but also its largest shareholder. Under the revised deal, SoftBank has increased the total value of its offer by $1.5 billion to $21.6 billion for an additional 8% stake in the new company. More importantly for Sprint’s investors, the cash part of the...
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Sprint Nextel Corporation (NYSE:S) has a message for DISH Network Corp (NASDAQ:DISH). It says some of the provisions in DISH’s bid to steal Clearwire Corporation (NASDAQ:CLWR) away violate Delaware state law, not to mention the shareholder agreement that’s in force at Clearwire currently. Last week DISH Network Corp (NASDAQ:DISH) raised its offer to $1 over Sprint Nextel’s $3.40 per share offer. Sprint’s $3.40 per share offer was more than it had offered previously, and...
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As if the acquisition saga involving Dish Network Corp (NASDAQ: DISH), Clearwire Corporation (NASDAQ:CLWR) and Sprint Nextel Corporation (NYSE:S) was already not twisted, Dish upped its bid for Clearwire by $1 higher than Sprint’s revised bid which was due to be voted on Friday. The sweetened offer from Dish represents a 2o percent plus premium to Sprint’s bid for the broadband wholesaler. The latest proposal has complicated the situation. Here is a closer look:...
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The battle for Clearwire Corporation (NASDAQ:CLWR) is heating up with DISH Network Corp (NASDAQ:DISH) making a much improved bid for the company, topping the offer Sprint (NYSE:S) had made last week. The satellite provider said late Wednesday that it has offered to acquire Clearwire at $4.40 per share – a premium of about 30% over Sprint’s $3.40 per share bid. With its recent moves, Dish has made it amply clear that it wants to be an...
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The Committee on Foreign Investment in the U.S. (CFIUS) has cleared the proposed merger of the U.S. based wireless carrier Sprint Nextel Corporation (NYSE:S) and Japan’s Softbank. DISH Network Corp (NASDAQ:DISH) through a website –www.nationalsecuritymatters.com, has been voicing the threats that Softbank could bring to the national security of the U.S. While Softbank moves one step closer to its planned Sprint acquisition, Dish is left with limited options. Eventually it will be the Sprint Nextel Corporation (NYSE:S)’s shareholders approval, which will...
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Post Market News Stocks that were active in U.S. trading on Thursday include Clearwire Corporation (NASDAQ:CLWR), EMC Corporation (NYSE:EMC), NV Energy, Inc. (NYSE:NVE), Big Lots, Inc. (NYSE:BIG) and Express Inc. (NYSE:EXPR). Market Levels U.S.: Dow Jones: 15,328.02 (+0.16%), S&P 500: 1,654.49 (+0.37%), Nasdaq: 3,491.30 (+0.69%) World Markets: Shanghai: 2,317.75 (-0.27%), Nikkei 225: 13,589.03 (-5.15%), Hang Seng Index: 22,484.31 (-0.31%), TSEC: 8,243.29 (-1.13%), FTSE 100: 6,656.99 (+0.45%), EURO STOXX 50: 2,799.20 (+0.45%), BSE Sensex: 20,215.40 (+0.34%) Metals: Gold: $1,411.50 (+1.45%), Silver: $22.69 (+1.06%), Platinum: $1,482.70 (+2.04%) Currency: EUR/USD: 1.3045...
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