Good Morning Traders!!  $CLWR UP HUGE in Pre-Market

New Post Public Reply Private Reply Replies (0) Message Board
Big White Dog

Good Morning Traders!!  $CLWR UP HUGE in Pre-Market trading.

Sprint Raises Offer For Rest of Clearwire to $2.97 a Share

7:27a ET December 17, 2012 (Dow Jones)

Sprint Raises Offer For Rest of Clearwire to $2.97 a Share

By Melodie Warner

Sprint Nextel Corp. (S) increased its offer to acquire the roughly 50% stake in Clearwire Corp. (CLWR) it doesn't already own, agreeing to pay $2.97 a share.
Sprint's move to consolidate Clearwire is seen as key to a strategy meant to disrupt the U.S. wireless market dominated by Verizon Wireless and AT&T Inc. (T).
Sprint said Monday the latest deal values Clearwire at $10 billion, including $5.5 billion of debt and spectrum lease obligations. The prior offer was worth $2.90 a share.
The new price is a 12% discount to Clearwire's Friday close. Shares of the company, which controls large swaths of wireless airwaves, were recently trading at $3.08 premarket, down 8.6%.
Last week Clearwire shareholder Mount Kellett Capital Management LP openly opposed Sprint's previous acquisition offer as opportunistic and undervaluing the smaller company. The private investment firm run by former Goldman Sachs Group Inc. (GS) executives owns 53.2 million shares, or about 7.3% of Clearwire's non-Sprint shares. Sprint currently owns 50.45% of Clearwire.
Clearwire's board recommends the new deal. Sprint said Clearwire has also received commitments from Comcast Corp. (CMCSA, CMCSK), Intel Corp. (INTC) and Bright House Networks LLC, who collectively own about 13% of Clearwire's voting shares.
Japanese wireless provider Softbank Corp. (9984.TO), which is acquiring a 70% stake in Sprint for $20 billion, also provided its consent to the transaction.

-Thomas Gryta contributed to this report.

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Tragedy Highlights Need for E-bike Safety Overhaul

Updated Category News Views 6

A Dire Wake-Up Call in the East Village We're staring hard at a heartbreaking mess in the East Village. A 15-year-old girl lost her life while riding an electric Citi Bike, hit by an industrial truck. Let's not dance around it—this is a gut punch, the kind you never want to ever hear about, and one that comes with a bitter flavor of 'what if?' Age Verification: A...

Continue Reading
Qatar Foundation Spurs Sport-Driven Empowerment Moves

Updated Category News Views 4

Here we go, diving into the serious talk of the moment: sports pushing boundaries to uplift society's underdogs. Envision yourself in the halls of Wilton Park, where the thinkers, the dreamers, and the doers convened in the name of change. Qatar Foundation ain't just sitting pretty; they're championing the cause to harness sport for impactful social threads across the...

Continue Reading
Why Liver Nurture Taps into Health Sector Trends

Updated Category News Views 5

Liver Wellness: A Sector on the Rise Remember when everyone was all about heart health and cholesterol levels? Seems like these days, folks have shifted their focus a bit south—right to the liver. It's no surprise, really. With our modern diet and lifestyle choices squeezing the life out of this hard-working organ, people are on the hunt for ways to give it the TLC it...

Continue Reading
USPS Rolls Out Christmas Cookie Stamps Nationwide

Updated Category News Views 5

USPS Delivers Nostalgia with Cookie-Themed Stamps Let's talk stamps, folks. The U.S. Postal Service has rolled out its newest Christmas Cookies Forever stamps, bringing a dash of sugary nostalgia to mailboxes nationwide. The release was celebrated at the Smithsonian National Postal Museum, spotlighting a tradition as sweet as the sugar cookies themselves. These aren't...

Continue Reading
Papa John's Faces Class Action Over Misleading Info

Updated Category News Views 5

Trouble Brewing for Papa John's Investors Rolling the dice in the stock market sometimes feels like playing the lottery, doesn't it? This time around, it's Papa John's (NASDAQ: PZZA) serving up a slice of turmoil for its investors. The pizza chain's got itself tangled in a class-action lawsuit, and it's the shareholders who're left with a bitter taste. Investors Cry Foul...

Continue Reading
Med Spa Visits: Key Insights from Lindsey Smith

Updated Category News Views 4

Moving Beyond the Fear Factor Stepping into a med spa for the first time can be nerve-wracking, especially if you're unsure of what to expect. Lindsey Smith, an expert from Flawless Med Spa in Bryant, Arkansas, knows just how critical it is to navigate this terrain with clarity. Her approach emphasizes building a foundation of trust and understanding from the get-go. Fear...

Continue Reading
Flying Car Regulatory Sandbox Begins in UAE

Updated Category News Views 9

Pioneering Flying Cars in the Desert In a move that seems right out of a science fiction screenplay, ARIDGE—the bigwig of flying cars from Asia—has taken a giant leap. They’ve cozied up with the UAE, locking arms to cook up the world's first regulatory sandbox for personal flying cars. Now, don’t laugh—sandbox isn't just for toddlers. It’s the playground where...

Continue Reading
Insta360 Expands with Times Square Flagship Store

Updated Category News Views 7

Insta360 Times Square Opening Marks Bold Expansion I dropped by Times Square today, and what do I see? Insta360 planting its flag right in the heart of New York City. Now, this isn't your run-of-the-mill grand opening—it’s the first flagship store outside of Asia, and it screams of big ambitions. Nestled at 1515 Broadway, the store is smack in the middle of one of the...

Continue Reading
BarrelPick.com Launches for Bourbon Aficionados

Updated Category News Views 4

Just when you think you've seen all the ways to enjoy bourbon, along comes BarrelPick.com with a tantalizing new proposition. They're throwing down the gauntlet for bourbon lovers everywhere by letting you buy an entire barrel, let it sit around for a bit, watch it mature, and then call the shots on when it finally sees the light of day in a bottle. Talk about skipping...

Continue Reading

Top 5 Most Recently Viewed Articles

The Remarkable Growth of GE Aero: A Five-Year Journey

Updated Category News Views 157

An Insightful Look at GE Aero's Growth GE Aero has truly excelled in the market over the past five years. With an impressive annualized return of 31.75%, it has outperformed many competitors, making it an intriguing option for investors. As of now, GE Aero boasts a market capitalization of around $193.98 billion. The Impact of $100 Investment Imagine investing $100 in GE...

Continue Reading
Exploring Growth Trends in the Single-Cell Biotherapeutics Sector

Updated Category News Views 137

Understanding the Single-Cell Biotherapeutics Market The single-cell biotherapeutics market is currently under significant transformation, reflecting an upward trajectory supported by various factors. This burgeoning market is on pace to generate substantial revenue, driven largely by consumer preferences and rapid technological developments that are reshaping the...

Continue Reading
Top Solar Stocks to Consider for Growth in the Coming Years

Updated Category News Views 139

Understanding the Solar Energy Landscape The U.S. energy infrastructure faces transformative changes. Despite recent regulatory actions favoring gas, oil, nuclear, and geothermal energy, the solar sector continues to thrive. Presently, solar energy accounts for 7% of the national electric grid capacity, equating to approximately 220 GW. According to reports, a significant...

Continue Reading
DFS Memorials Partners with Canadian Funerals for Affordable Cremation

Updated Category News Views 195

DFS Memorials and Canadian Funerals Online Unite for Affordable Services DFS Memorials, a respected network that connects families to local, licensed funeral homes providing low-cost direct cremation services, is proud to announce its partnership with Canadian Funerals Online. This collaboration is a significant step towards improving access to affordable cremation...

Continue Reading
SYNO International Expands Global Reach Through Strategic Alliances

Updated Category News Views 148

Strategic Growth: SYNO International's Collaborative Path Recently, SYNO International (SNI) made significant strides in its global outreach by co-hosting a pivotal summit that connected international investors with Indonesian economic opportunities. This event was a defining moment for SNI, highlighting its commitment not just to investment but to building lasting...

Continue Reading