Clearwire Takes $80M From Sprint As Dish Offer Hangs

Law360, New York (March 28, 2013, 11:53 AM EDT) -- Clearwire Corp. has drawn $80 million in merger-related financing from Sprint Nextel Corp., it said Thursday, tapping a much-needed cash lifeline even as its board considers whether to dump Sprint in favor of a rival, though now somewhat stale offer from Dish Network Corp.

Clearwire will sell $80 million of exchangeable notes to Sprint, giving Sprint the right to buy Clearwire shares for $1.50 apiece. Sprint, already Clearwire’s majority owner, struck a deal in December to buy the rest of the company for $2.97 per share,...
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