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US: Sprint, Clearwire merger put on hold

By  |  May 31, 2013
US: Sprint, Clearwire merger put on hold

In light of Dish Network’s competing bid to buy Clearwire Corp., Clearwire has decided to put its suggested merger with Sprint on hold, say reports. Clearwire had originally scheduled last Friday for shareholders to vote on the proposed deal, but the company announced the night before the scheduled voting that it would postpone it until mid-June. The postponement comes in response to Dish’s upped offer for Clearwire, which was made last Wednesday. Additionally, Dish has offered $800 million in interim financing to Clearwire. The decision is further complicated by Sprint’s proposed merger with Japan-based SoftBank Corp., made for $20.1 billion. Sprint shareholders will vote on the SoftBank deal one day before the Clearwire-Sprint deal is voted upon.

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