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Clearwire Minority Shareholders OK Sprint Deal

Mon, 07/08/2013 - 2:12pm
Ben Munson

Clearwire today announced its minority shareholders approved the $5 per share merger bid from Sprint. Of the minority shareholders not affiliated with Sprint or SoftBank, approximately 82 percent voted in favor of the transaction. 

In addition, holders of approximately 95 percent of all outstanding shares of Clearwire common stock also cast votes in favor of the merger.

"The Clearwire team is looking forward to working closely with our counterparts at Sprint to realize the potential of our assets inherent in this combination as we integrate our two companies,” Clearwire CEO Erik Prusch said in a statement.

Clearwire is expecting to close the deal with Sprint by July 9, a day before Sprint is expecting to close its merger transaction with SoftBank.

Clearwire stockholders also approved the NASDAQ Authorization proposal, the Charter Amendment proposal and a non-binding proposal regarding certain merger-related executive compensation arrangements.

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