Monday, December 17, 2012

Sprint, ClearWire Agree To Buyout For $2.2 Billion

Sprint and Bellevue-based wireless infrastructure firm Clearwire announced this morning that the two have agreed on buyout terms, where Sprint will pay $2.97 per share for the remainder of Clearwire, a deal worth $2.2 billion. According to the two, the offer gives Clearwire an enterprise value of approximately $10 billion. The two said the transaction represents a 128 percent premium to Clearwire's closing share price the day Softbank and Sprint confirmed their discussions of a buyout by Softbank.