Dish Withdraws $6.8B Bid For Clearwire

Law360, New York (June 26, 2013, 5:33 PM EDT) -- Dish Network Corp. on Wednesday dropped its $6.8 billion bid for Clearwire Corp., clearing the way for Sprint Nextel Corp. to buy the broadband operator and signaling the end of one of the year’s most spirited takeover chases.

Dish did not provide a reason, saying only that the terms of its $4.40-per-share tender offer allowed it to walk after Clearwire’s board switched its support to a sweetened, $5-per-share bid from Sprint last week.

The decision comes a week after Dish dropped a $25.5 billion effort to...
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