Sprint Notches Clearwire Buy With Increased $2.2B Offer

Law360, New York (December 17, 2012, 12:27 PM EST) -- Sprint Nextel Inc. will round out its ownership in broadband Internet service provider Clearwire Corp. for a sweetened $2.2 billion, the companies said Monday, a deal that gives Sprint access to a big chunk of valuable wireless spectrum.

The $2.97 per-share price offered to Clearwire investors is a slight increase over Kansas-headquartered Sprint’s initial $2.90 per-share proposal made Thursday, and represents a 40 percent premium over Washington-based Clearwire’s closing price on the November day before rumors of a deal intensified.

Through the transaction, Sprint will assume...
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