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US: Clearwire faces ‘limited alternatives,’ pleads for Sprint buyout approval

By  |  May 7, 2013

In a letter sent to Clearwire LLC stockholders earlier this week, the company’s Special Committee has warned there are “limited alternatives” if a buyout offer from Sprint Nextel is not approved. According to reports, the board of directors told shareholders it weighed various strategic options and has seen Sprint’s $2.2 billion offer as the best for the company considering “the well-known constraints of its liquidity position.” Clearwire reportedly needs $2-$4 billion to stay in business. The news emerges as Sprint Nextel faces its own buyout rivalry as Dish Network and Softbank battle with their own multi-billion dollar bids.

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