Clearwire Corp. says it is still evaluating a Dish Network Corp. bid to acquire at least 25 percent of the company even as it continues to recommend the Sprint Nextel Inc. bid to take control.
Clearwire provided an update Friday on the status of both bids. On Jan. 8, Clearwire received an unsolicited bid from Dish to acquire up to all of Clearwire's common stock for $3.30 per share. Sprint, which already owns the majority of Clearwire, upped its takeover bid to $2.2 billion on Dec. 17.
Clearwire says that it has passed on $80 million worth of Sprint financing for February as it continues to examine both bids. (See Sprint Still Likes Sprint Proposal.)
Why this matters
Some Clearwire shareholders continue to complain that Sprint's revised bid undervalues Clearwire. Just what Clearwire's massive swathe of 2.6GHz spectrum is worth still hangs in the air as the Clearwire board continues its evaluation.
â€” Dan Jones, Site Editor, Light Reading Mobile