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...
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.