Clearwire switches to support Dish buyout offer

BELLEVUE, Wash. (AP) - Wireless data network operator Clearwire Corp. is recommending that its shareholders approve a buy-out offer from Dish Network Corp., reversing its earlier stance to support a takeover bid by its majority shareholder, Sprint Nextel Corp.

Clearwire shares rose 3 cents to $4.40 in after-hours trading Wednesday, the same amount that Dish is offering per share.

Dish also said in a release Wednesday that its offer to pay $4.40 per share of Clearwire would be extended by two working days to July 2, and holders of 245,411 Clearwire shares had already committed to sell them to Dish.

That represents less than 0.1 percent of the 1.5 billion Clearwire shares outstanding.

Dish has said its offer is contingent on being able to buy 25 percent of the company.

Sprint said late Wednesday that it will review Clearwire's statement and any subsequent filings with regulators before determining its next steps.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Seahawks Schedule
    The Seahawks have released the 2014 regular-season schedule

  • Save the Buses?
    A group is gathering signatures to save transit, but Michael Medved has another solution
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Listen to the show
Hear GeekWire on KIRO Radio
Join Todd Bishop and John Cook weekends on KIRO Radio to talk Seattle technology.

Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know a student who stands out in the classroom, school and community?
Help make their dreams come true by nominating them for a $1,000 scholarship and a chance to earn a $10,000 Grand Prize. Brought to you by KIRO Radio and Comprehensive Wealth Management.

Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.