Less than a month after wireless network operator Clearwire agreed to sell Sprint Nextel the nearly 50 percent stake in the company that Sprint does not already own, Dish Network Corporation has swooped in with a rival offer that would pay the target $3.30 apiece for its shares.
The Dish offer, announced Tuesday, comes on the heels of Sprint agreeing to pay $2.1 billion to acquire full ownership of Clearwire with an offer that valued Clearwire shares at $2.97 apiece. As The Am Law Daily has reported, Sprint became Clearwire’s majority owner in October, when the Overland Park, Kansas–based mobile carrier acquired $100 million worth of Clearwire shares from Eagle River Holdings to increase its stake in the company from 48.15 percent to 50.8 percent. That move came just days after Japanese telecommunications company SoftBank agreed to pay $20.1 billion for a 70 percent stake in Sprint.
