The wireless broadband company is down 2.2% in after hours trading following Dish Network‘s announcement that it has taken its $4.40 a share offer off the table. Dish says that it made its decision after Clearwire’s board recommended that investors accept a $5 offer from Sprint, which already owns about half of Clearwire‘s stock. Sprint’s offer valued Clearwire at more than $14B. The developments pose a dilemma for Dish Chairman Charlie Ergen as he tries to create a national wireless broadband service. He has been amassing airwave spectrum rights but has said that he needs additional licenses. He had hoped to secure that by acquiring a large minority stake in Clearwire – and by acquiring Sprint. But Japan’s SoftBank is poised to win the mobile phone provider after it outbid Dish.
By DAVID LIEBERMAN, Financial Editor | Wednesday June 26, 2013 @ 4:33pm EDTTags: Clearwire, Dish Network, Sprint, Sprint Nextel
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This article was printed from http://www.deadline.com/2013/06/dish-network-withdraws-offer-for-clearwire/