Dish Beats Sprint's Bid for Clearwire
Late Wednesday DISH Networks LLC upped its bid for Clearwire Corp. topping Sprint's recently revised bid to own its 4G partner outright.
Dish upped its bid for spectrum and 25 percent -- or more -- of Clearwire to $4.40 a share. Sprint increased its offer to own the half of Clearwire it doesn't already own to $3.40 a share last week under pressure from Clearwire shareholders.
The sweetened Dish offer values Clearwire at $6.5 billion.
Clearwire has put out a statement about the bid saying it will "review" the new offer. "The Special Committee has not made any determination to change its recommendation of the current Sprint transaction," Clearwire says.
Sprint, meanwhile, is already planning to introduce tri-band LTE devices that use Clearwire's band, suggesting that it is expecting to win its bid. (See Could Sprint Have Clearwire Takeover in the Bag?)
— Dan Jones, Site Editor, Light Reading Mobile