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Exclusive: Softbank caps Sprint’s Clearwire bid; investors want more

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NEW YORK (Reuters) – Sprint Nextel Corp’s $2. 1 billion offer to buy out Clearwire Corp appeared to be running into trouble on Thursday, as some shareholders said they wanted more money while Softbank Corp set a cap on how much Sprint could pay. Sprint, which owns 50. 45 percent of Clearwire, offered $2. 90 per share for the rest of the company and said it would also provide interim financing of $800 million to the cash-strapped company. Any deal would need approval by Softbank, which has agreed to buy 70 percent of Sprint for about $20 billion. Clearwire shareholders, who together hold about 7. . . .

View full post on Tech News Headlines – Yahoo! News


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