Clearwire Investor Urges 'No' Vote On $2B Sprint Merger

Law360, New York (April 10, 2013, 10:39 PM EDT) -- Clearwire Corp.’s largest minority shareholder, investment firm Crest Financial Ltd., on Wednesday urged Clearwire stockholders not to approve the wireless company’s proposed $2.2 billion merger with Sprint Nextel Corp., saying the offer gives minority stockholders short shrift.

Texas-based Crest renewed its call against the proposed deal in a preliminary proxy statement Wednesday, arguing Sprint’s proposed offer, which amounts to $2.97 per share, is undervalued and hurts minority shareholders.

If the U.S. Securities and Exchange clears the statement, Crest will use it to persuade Clearwire stockholders to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.