Sprint Closes $3.6B Clearwire Takeover

Law360, New York (July 9, 2013, 2:51 PM EDT) -- Sprint Nextel Corp. has closed on its long-contested $3.6 billion takeover of Clearwire Corp. a day after Clearwire shareholders voted overwhelmingly to approve the deal, according to a Tuesday announcement from Sprint.

In connection with the deal, Sprint — which is itself being acquired by Japan's SoftBank Corp. — will pick up the 49.8 percent stake in Clearwire that it does not already own. The wireless firm beat back a competing offer for Clearwire by Dish Network Corp., which dropped a $4.40-per-share bid on June 26.

Each share of...
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