June 18, 2013
Sprint Nextel Corp. has slapped Dish Network Corp. with a lawsuit over its bid for Clearwire LLC, claiming it violates investor rights. Sprint, Clearwire's majority owner, said Monday that it is suing Dish in state court in Wilmington, Del. Both are vying to acquire the 4G wholesaler, but Clearwire's board of directors last week recommended stockholders approve Dish's higher bid, turning the tables on Sprint, which thought it had the deal sewn up. Sprint is alleging that Clearwire can't accept an offer from Dish without its permission since it owns just over 50 percent of the company and that Clearwire isn't able to give Dish the veto powers and board seats it is demanding. Sprint, of course, won't sign off on a deal for Dish, since it is just as eager to take over control of its valuable spectrum holdings. For more
Dish Network has been causing drama for Sprint (and Softbank Corp.) for the better part of the year. Read up on the sordid love triangle below.
Clearwire Board Flip-Flops for Dish over Sprint
Dish Beats Sprint Bid for Clearwire
Could Sprint have a Clearwire Takeover in the Bag?
Clearwire Board Says Sprint's the Only Way Out
What's the Next Mega-Mobile Merger in the US?
Sprint, Softbank, Dish Go Off to the Races
M&A in the USA
Clearwire Board Says 'Yes' to Sprint's Revised Bid
Clearwire Board Urges Shareholders to Vote for Sprint
Clearwire Inching Towards Sprint Deal
Dish Chairman Open to Sprint Partnership
Clearwire Doesn't Rule Out Dish Deal
— Sarah Reedy, Senior Editor, Light Reading
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