Clearwire board approves revised Sprint offer

[AWS]

Clearwire's Board of Directors has approved a revised offer from Sprint to acquire a remaining 50% stake in the company. Sprint had previously offered $2.97 per share, or $2.2 billion, for the wireless broadband wholesaler. After several shareholders voiced their concerns about the sale, Sprint decided to raise its offer to $3.40 per share. The revised bid valued Clearwire at $10.7 billion and represented a 14% premium over the original bid. The board is recommending shareholders vote in favor of the acquisition when they meet on May 31st. Clearwire's press release follows below.

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Via BRG - Boy Genius Report