Top Proxy Firms Split On Sprint's $2B Clearwire Offer

Law360, New York (May 10, 2013, 5:09 PM EDT) -- A pair of top proxy advisory firms on Friday came down on opposite sides in a dispute over whether shareholders in broadband provider Clearwire Corp. should sign off on Sprint Nextel Corp.'s $2.2 billion takeover bid, scheduled for an investor vote later this month.

Institutional Shareholder Services Inc. stamped its approval on the plan, calling it Clearwire's best option to stay in business.

“A vote for the proposed transaction is warranted in light of the valuation and market premium offered, amid an overarching context of significant...
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