PE Shareholder Urges Clearwire To Rethink $2B Sprint Bid

Law360, New York (January 16, 2013, 5:26 PM EST) -- A private equity firm with a hefty minority stake in Clearwire Corp. on Wednesday pressed the company to backpedal on a proposed $2.2 billion sale to Sprint Nextel Corp. in favor of a complicated $4.9 billion rival offer from Dish Network Corp.

In a public letter sent to the broadband Internet provider's board, Mount Kellett Capital Management LP laid out accusations that a special committee formed to size up the deal bowed to Sprint's offer at shareholders' expense and called on them to evaluate alternatives —...
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