Sprint To Cover Crest's Proxy Costs As Fight Winds Down

Law360, New York (July 3, 2013, 2:03 PM EDT) -- Sprint Nextel Corp. will cover up to $2.5 million in proxy solicitation costs of the hedge fund that spent six months trying to thwart its deal for Clearwire Corp., as part of a detente disclosed in security filings Wednesday, ahead of a vote planned for Monday. 

Crest Financial Ltd. promised to vote its 4 percent stake in favor of the merger, in which Sprint will pay $3.5 billion for the half of Clearwire it doesn't already own, and urged other stockholders to do the same. Sprint's...
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