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News Breaks | | | | December 17, 2012 | | 07:02 EDT |  | CMCSA, S, INTC, CMCSK, CLWR | Sprint to acquire 100% ownership of Clearwire shares for $2.97 per share
Sprint (S) has entered into a definitive agreement to acquire the approximately 50% stake in Clearwire (CLWR) it does not currently own for $2.97 per share, equating to a total payment to Clearwire shareholders, other than Sprint, of $2.2B. This transaction results in a total Clearwire enterprise value of approximately $10B, including net debt and spectrum lease obligations of $5.5B. The transaction was unanimously approved by Clearwire’s board of directors upon the unanimous recommendation of a special committee of the Clearwire board consisting of disinterested directors not appointed by Sprint. In addition, Clearwire has received commitments from Comcast (CMCSA), Intel Corp (INTC) and Bright House Networks LLC, who collectively own approximately 13% of Clearwire’s voting shares, to vote their shares in support of the transaction. SoftBank has provided its consent to the transaction, as required under the terms of its recently announced merger agreement with Sprint. In connection with the transaction, Clearwire and Sprint have entered into agreements that provide up to $800M of additional financing for Clearwire in the form of exchangeable notes, which will be exchangeable under certain conditions for Clearwire common stock at $1.50 per share, subject to adjustment under certain conditions. | |
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News For S;CLWR;INTC;CMCSA;CMCSK From The Last 14 Days Check below for free stories on S;CLWR;INTC;CMCSA;CMCSK the last two weeks. |
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| June 18, 2013 | | 18:36 EDT | | CLWR, S | DISH issues update on Sprint proposal
 Subscribe for More Information | | | 17:12 EDT | | INTC | Nvidia to begin licensing GPU cores, visual computing portfolio
Subscribe for More Information | | | 15:03 EDT | | INTC | Intel recommends shareholders reject TRC Capital's 'mini tender' offer
Subscribe for More Information | | | 11:30 EDT | | CLWR, S | DISH issues statement on Sprint complaint
DISH Network (DISH) issued the following statement in response to Sprint Nextel's (S) June 17 allegations against DISH and Clearwire (CLWR): “Sprint’s lawsuit is a transparent attempt to divert attention from its failure to deal fairly with Clearwire’s shareholders, as well as to exploit its majority position to block Clearwire’s shareholders from receiving a fair price for their shares. DISH is confident that its superior offer, which has been unanimously recommended by the Clearwire Board, including the majority appointed by Sprint, will be upheld and Clearwire shareholders will be free to realize the 29 percent premium represented by the DISH offer.” | | | 08:17 EDT |  | INTC | Intel reportedly plans high-end Haswell PC chips for 2014, BGR says
Subscribe for More Information | | | 05:55 EDT |  | S | Stocks with implied volatility movement; S KNDI
Stocks with implied volatility movement; Sprint (S), Kandi Technologies (KNDI) according to IVolatility. | | | June 17, 2013 | | 19:19 EDT | | S, CLWR | Sprint files suit against DISH, Clearwire over tender offer
Sprint (S) announced that it has filed a complaint in the Delaware Court of Chancery against DISH Network (DISH) and Clearwire (CLWR) asking the court to prevent the consummation of the DISH tender offer for Clearwire. Sprint believes the transaction violates Delaware law and the rights of both Sprint and Clearwire’s other strategic investors under Clearwire’s charter and under the equity hHolders agreement. In addition to seeking to enjoin the tender offer, Sprint’s lawsuit seeks to rescind certain parts of the tender offer agreement and seeks declaratory, injunctive, compensatory and other relief. | | | 17:31 EDT | | CLWR | DISH says HSR waiting period for Clearwire tender offer expires
Subscribe for More Information | | | 11:18 EDT | | S | Samsung phone to transmit data at much faster speed, Reuters reports
Samsung intends to sell a version of its Galaxy S 4 smartphone that will transmit data at almost twice the speed of devices that use conventional LTE, the company's co-CEO said, according to Reuters. The company is in talks with a number of carriers about selling the new phone, the executive told Reuters. Reference Link | | | 06:53 EDT |  | CMCSA | Comcast upgraded to Strong Buy from Outperform at Raymond James
Subscribe for More Information | | | | 05:49 EDT | | CLWR | Stocks with implied volatility movement; MYGN CLWR
Stocks with implied volatility movement; Myriad Genetics (MYGN), Clearwire (CLWR) according to IVolatility. | | | June 14, 2013 | | 10:31 EDT | | S | Sprint issues statement in response to White House broadband initiatives
Subscribe for More Information | | | 09:55 EDT | | S | T-Mobile confirmed by Softbank as 'Plan B' if Sprint bid fails, Bloomberg says
Subscribe for More Information | | | 07:15 EDT | | S | NSA data not collected directly from Verizon Wireless, T-Mobile, WSJ says
Because of their foreign ownership ties, Verizon Wireless (VZ, VOD) and T-Mobile USA (TMUS, DTEGY) do not have data on their calls collected directly by the National Security Agency, according to The Wall Street Journal, citing people familiar with the matter. The Journal's sources said the other two nationwide carriers, AT&T (T) and Sprint (S), have long cooperated with the government and officials believe they can still capture information on 99% of U.S. phone traffic because nearly all calls eventually travel over the networks owned by other cooperating companies. Reference Link | | | 07:13 EDT | | S, CLWR | ISS wants Clearwire shareholders to reject Sprint deal, Reuters reports
Subscribe for More Information | | | 06:08 EDT | | CLWR, S | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: The strong Q1 corporate profits may not be as good as they look, according to an analysis by the Wall Street Journal that shows that the extension of a big tax credit quietly boosted the profits of dozens of companies...Many investors have lowered their expectations for future inflation, a shift that could get the attention of Fed officials as they consider the course of their bond-buying program at a policy meeting next week. The Fed has a 2% inflation goal and doesn't want consumer prices to veer too much above or below that number over time, the Wall Street Journal reports...REUTERS: Proxy advisory firm Institutional Shareholder Services urged Clearwire (CLWR) shareholders to vote against majority shareholder Sprint Nextel’s (S) $3.40 per share offer for Clearwire stock it does not already own, Reuters reports...U.S. investment firm Royalty Pharma said it expects the majority of takeover target Elan's (ELN) shareholders will reject the Irish firm's own proposed acquisition deals at a shareholder meeting on Monday, Reuters reports...BLOOMBERG: Boeing (BA), coming back from the 787 Dreamliner’s three-month grounding, is moving closer to a further production increase that would reward investors by freeing up billions of dollars for dividends and buybacks, Bloomberg reports...Fiat (FIATY) and Chrysler Group CEO Sergio Marchionne is closing in on refinancing deals for both automakers ahead of a plan to merge the two companies, sources say, Bloomberg reports. | | | 06:06 EDT | | S | Dish's broken pledge complaint called 'nonsensical,' Bloomberg reports
Subscribe for More Information | | | June 13, 2013 | | 08:05 EDT |  | S, CLWR | Clearwire postpones special shareholder meeting
Subscribe for More Information | | | 06:40 EDT | | CMCSA, INTC | Cable companies looking to derail Intel broadcast bid, NY Times says
Subscribe for More Information | | | June 12, 2013 | | 19:59 EDT | | CMCSA | News Corp.'s Fox to take in less ad revenue, WSJ reports
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