Dish Networks has submitted a new tender offer for Clearwire of $4.40 per share, which represents a 29% premium over Sprint’s recently upped bid of $3.40 per share. Dish made the offer just hours ahead of a Clearwire’s shareholder vote on Sprint’s bid, which is scheduled for Friday. ”
The Clearwire spectrum portfolio has always been a key component to implementing our wireless plans of delivering a superior product and service offering to customers,” said Charlie Ergen, chairman and co-founder of Dish in a statement.
Dish first bid on Clearwire early this year after Sprint initiated its own take-over attempt. Sprint raised its bid for Clearwire last week in order to appease minority Clearwire shareholders who weren’t satisfied with its initial offer of $2.97 per share. Clearwire acknowledged the revised tender offer and said, “The Special Committee of Clearwire’s board of directors will review it to determine the best course of action for the company and its stockholders.
The Special Committee has not made any determination to change its recommendation of the current Sprint transaction.” Clearwire did not immediately reschedule Friday’s vote.
