I am quite sure that Sprint is a household name for many of our readers, especially those who reside in the US, and one must take note that Sprint happens to be the majority owner of network wholesaler Clearwire. Having said that, Sprint recently filed a suit in the Delaware Court of Chancery against Dish Network and Clearwire, with the request to prevent Dish from acquiring Clearwire. Dish claimed earlier this morning that the Hart-Scott-Rodino act waiting period has already expired on June 14th, without any request for additional information from the government.
Clearwire’s board did share their recommendation to stockholders sometime last week, asking them to accept the $4.40 a share tender offer from Dish Network for Clearwire’s shares, which is a dollar more than Sprint’s $3.40 a share offer. Right now, Sprint happens to own 51% of Clearwire’s stock, but despite that seemingly unassailable position, they would still require a majority of the minority holders to vote in favor of this deal – and frankly, such a deal does not look as though it is going to happen anytime soon. We are interested to see how this particular saga would work out eventually.