Clearwire
SoftBank Ups Sprint Bid, Sprint Puts Dish in the Corner
June 11, 2013 10:03 am | by Ben Munson | News | CommentsSoftBank late Monday raised its bid to acquire Sprint to $21.6 billion from $20.1 billion, or $7.65 per share. Under the new agreement, SoftBank would take a 78 percent stake in Sprint, up from the 70 percent promised in the previous offer.
Report: SoftBank Could Buy Deutsche Telekom’s Stake in T-Mobile
June 7, 2013 4:33 pm | by Ben Munson | News | CommentsSoftBank might be interested in buying Deutsche Telekom’s (DT) 74-percent stake in T-Mobile USA, if the Japanese carrier’s $20.1 billion bid for Sprint falls through. Reuters is citing three sources familiar with the situation saying that the talks—a continuation of preliminary negotiations between SoftBank and DT that began last year—have recently ramped up in light of Dish’s competing bid of $25.5 billion for Sprint.
Sprint: Dish’s Clearwire Bid “Not Actionable,” Violates Law
June 3, 2013 10:30 am | by Ben Munson | News | CommentsSprint is firing back at Dish’s offer to buy the remainder of Clearwire, calling the bid “not actionable” and saying it violates Delaware law and the existing Clearwire Equityholders’ Agreement (EHA). In a letter sent Wednesday to Clearwire’s board, Sprint CEO Dan Hesse made it clear that his company “will not vote in favor of [Dish’s] proposal, tender its shares in the offer or waive any of its rights as a stockholder or under the EHA.”
Clearwire Postpones Sprint Vote, Could Force SoftBank’s Hand
May 31, 2013 9:36 am | by Ben Munson | News | CommentsIn light of Dish’s offer yesterday financially trumping Sprint’s existing bid for Clearwire, the wireless broadband carrier has rescheduled a shareholder vote on Sprint’s bid to buyout Clearwire. Clearwire’s shareholders were scheduled to vote on the Sprint transaction May 31. Sprint last week raised its offer to $3.40 per share (up from $2.97), but Dish swooped in with a $4.40 per share tender offer at the last minute.
Dish Raises Bid for Clearwire to $4.40 Per Share
May 30, 2013 9:51 am | by Ben Munson | News | CommentsDish Network has raised its bid for Clearwire to $4.40 per share, representing a 29 percent premium over the revised offer of $3.40 per share Sprint last week submitted to the internet wholesaler. The bid caused Clearwire’s stock to skyrocket in after hours trading and it’s currently up more than 20 percent in pre-market as of 8:13 a.m. CT.
Sprint, SoftBank Strike U.S. Security Deal with Stipulations
May 29, 2013 10:30 am | by Ben Munson | News | CommentsSprint today announced that it and Japanese carrier Softbank have received clearance from the Committee on Foreign Investment in the U.S. (CFIUS) to move ahead with the proposed $20 billion merger of the two companies. The CFIUS’ approval comes with stipulations.
Clearwire Board Likes New Sprint Bid, Shareholder Does Not
May 22, 2013 10:58 am | by Ben Munson | News | CommentsClearwire’s board of directors is recommending its shareholders vote in favor of Sprint’s revised bid to buy out the wireless wholesaler. Large minority shareholder Crest Financial Limited sent a letter chiding Clearwire’s board for postponing the vote and urging shareholders to vote against Sprint’s revised offer.
Sprint Raises Clearwire Offer
May 21, 2013 10:46 am | by Ben Munson | News | CommentsSprint has raised its offer to buyout Clearwire to $3.40 per share, representing a 14 percent premium over the previous offer of $2.97 and valuing Clearwire at $10.7 billion. Sprint’s boosted bid to acquire the nearly 50 percent of Clearwire it doesn’t already own comes just hours before Clearwire shareholders are scheduled to vote on the transaction.
Clearwire Again Implores Shareholders to Vote For Sprint Offer
May 13, 2013 11:17 am | by Ben Munson | News | CommentsToday’s letter goes over the points outlined in a letter Clearwire sent to shareholders last week but this time, Clearwire comes armed with a new recommendation from Institutional Shareholder Services (ISS), an advisory firm that is now recommending Clearwire shareholders vote for the Sprint merger.
SoftBank CEO: Our Sprint Deal is Better Because of TD-LTE
May 7, 2013 10:09 am | by Ben Munson | News | CommentsSpeaking at a press conference, Son touted his company’s success in deploying TD-LTE over 2.5 GHz spectrum in Japan. He added SoftBank is better equipped to help Sprint deploy the same kind of service on the large swaths of 2.5 GHz Sprint stands to inherit should its $2.2 billion bid to buyout WiMax wholesaler Clearwire go through.
Clearwire Sends Letter to Stockholders, Urging Yes Vote on Sprint Bid
May 6, 2013 10:32 am | by Ben Munson | News | CommentsClearwire outlined its exhaustive efforts to turn around its fortunes in the WiMax wholesale market in a letter sent Monday to stockholders. But the company continually returned to the conclusion that Sprint’s $2.97 per share offer (translating to nearly $2.2 billion for shareholders) was not only the best deal but really the only deal that would save Clearwire before its liquidity runs dry.
Clearwire Draws Sprint Funding for Third Straight Month
April 30, 2013 8:55 am | by Ben Munson | News | CommentsAfter declining funding from Sprint in January and February, Clearwire has elected to take the funding for May, making it three straight months of $80 million draws for a grand total of $240 million. The initial offer from Sprint totaled $800 million to be lent...
Report: Clearwire Might Default if Sprint Bid Not Approved Soon
April 16, 2013 9:23 am | by Ben Munson | News | CommentsClearwire is considering defaulting on a $255 million interest payment due in June, which is based on nearly $4.5 billion in debt. Reuters dug into the company’s proxy filing from last week and saw that the company might consider bankruptcy if Sprint’s proposed acquisition is not approved by shareholders.
Analysts Weigh-In on Dish’s Offer to Sprint
April 15, 2013 3:32 pm | by Ben Munson | News | CommentsDish Network unleashed a whole lot of disruption Monday morning when it announced a $25.5 billion offer to merge with Sprint. The unsolicited bid threw a big wrench into Softbank’s $20-billion deal for Sprint. Roger Entner, founder of Recon Analysts, sees Dish’s offer playing out in terms of more money for Sprint’s investors.
Dish Leapfrogs Softbank With $25.5 Billion Bid for Sprint
April 15, 2013 10:26 am | by Ben Munson | News | CommentsDish Networks this morning announced a $25.5 billion merger bid for Sprint, a deal it says represents a 13 percent premium over the value of Softbank’s current offer to acquire the Kansas City-based carrier. Dish’s offer consists of $17.3 billion in cash and $8.2 billion in stock.
Hedge Fund Offers Clearwire Additional $80M in Financing
April 10, 2013 10:50 am | by Ben Munson | News | CommentsAurelius Capital Management has offered Clearwire $80 million in funding to further entice the WiMax wholesaler away from Sprint’s funding offer. In a letter to Clearwire’s board, Aurelius explains that its financing offer would be on similar terms to that of Sprint’s...
Investor Offers Clearwire $240M Alternative to Sprint’s Money
April 4, 2013 10:41 am | by Ben Munson | News | CommentsCrest Financial Limited has offered Clearwire $240 million in financing as an alternative to the $80 million per month funding draw Sprint has been giving to the WiMax wholesaler. The offer is meant to provide Clearwire with more time to consider alternatives to Sprint’s offer of $2.97 per share to buy the roughly 50 percent of Clearwire it doesn’t already own.
Sprint, Softbank Near U.S. Deal to Restrict Huawei Gear
March 29, 2013 9:52 am | by Ben Munson | News | CommentsThe New York Times reports that Sprint and Softbank, the Japanese cellular company that intends to buy 70 percent of the U.S.’s third largest carrier, are expected to allow the U.S. government oversight in its choice of network suppliers.
Clearwire Takes Another $80 Million From Sprint
March 28, 2013 10:39 am | by Ben Munson | News | CommentsClearwire has opted to draw $80 million in funding for April from Sprint, as part of the carrier’s proposed offer to buy the WiMax provider for $2.97 per share. Clearwire accepted the draw for March despite Dish’s insistence it would withdraw its offer to buy the remaining half of Clearwire for $3.30 per share.
Dish Urges FCC to Squeeze Sprint, Clearwire Deal
March 21, 2013 10:29 am | by Ben Munson | News | CommentsAccording to a regulatory filing, Dish urged the FCC to insist Softbank and Sprint fully divulge their plans for utilizing the spectrum licenses they stand to inherit from Clearwire. In addition, Dish reiterated that the FCC should apply its spectrum screen to Clearwire’s 2.5GHz airwaves.
Crest Wants List of Clearwire Shareholders in Bid to Block Sprint Deal
March 20, 2013 9:47 am | by Ben Munson | News | CommentsCrest Financial Limited has demanded a list of Clearwire’s shareholders and hired a proxy-solicitation firm to help in its fight to block Sprint’s proposed acquisition of Clearwire. Crest owns 3.9 percent in common stock of Clearwire. Sprint owns more than 50 percent of Clearwire.
Report: Sprint’s Valuation of 2.5 GHz Spectrum on Target
March 13, 2013 10:50 am | by Ben Munson | News | CommentsSprint’s offer to buy Clearwire for $2.97 per share works out to $0.21 per MHz POP for the 2.5 GHz spectrum, placing it above the valuation of near $0.14 per MHz POP, a conclusion reached by a new white paper, commissioned by Sprint, from Dr. Kostas Liopiros of the Sun Fire Group.
Former FCC Commissioner Claims Clearwire Spectrum Undervalued in Sprint Deal
March 12, 2013 3:37 pm | by Ben Munson | News | CommentsIn a new report, former FCC commissioner Dr. Harold Furchtgott-Roth and the Analysis Group claims that Sprint’s proposed $2.97 per share offer to take control of Clearwire vastly undervalues the WiMax provider’s spectrum holdings. The report states that at the current offer represents $0.11 per MHz POP when it should be valuing at $0.31-$0.50 per MHz POP.
Clearwire Draws Sprint Funding, Could Complicate Dish Offer
February 27, 2013 9:46 am | by Ben Munson | News | CommentsClearwire has elected to accept the $80 million draw from Sprint for March, while continuing to discuss acquisition offers from both Sprint and Dish. Dish has said that it will withdraw its offer of $3.30 per share to buy the remaining 50 percent of Clearwire if the WiMAX provider drew any of the funding offered by Sprint.
Ergen: Dish Has Time to Mull Many Options for Wireless
February 21, 2013 10:20 am | by Andrew Berg | News | CommentsDish Network Chairman Charlie Ergen said his company has plenty of time to decide how to use its spectrum, which was recently approved by the FCC for use in deploying an LTE-Advanced wireless network. "I think the focus for the next year will be to figure out what the best path...
