GO
Loading...

Enter multiple symbols separated by commas

Dish Offers to Buy Clearwire for $3.30 a Share

Dish Network, a satellite TV provider, has offered to buy Clearwire, a 4G wireless broadband provider, for $3.30 a share.

The unsolicited Dish offer trumps a $2.97 a share bid from Sprint made in December.

In a press release, Clearwire said it will hold discussions with Dish, but "its ability to enter into strategic transactions is severely limited by its current contractual arrangements."

"We look forward to working with Clearwire's Special Committee as it evaluates our proposal," said Tom Cullen, Dish executive vice president of corporate development, in a statement.

Sprint in a letter to Clearwire called the Dish proposal "illusory, inferior" to the Sprint offer and not viable because it cannot implemented in light of Clearwire's current legal and contractual obligations."

What are the stocks doing now?

Click here for the latest after-hours Dish quote.

Clearwire shares were halted pending the news, then shot up 10 percent when they resumed trading. Click here for the latest after-hours quote for Clearwire.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Quality stocks everyone hates

    Former U.S. Marines Corps Captain Wes Grey of Alpha Architect, shares his strategy to find cheap, high quality stocks.

  • Trader on rate hike: Bring it!

    The FMHR traders discuss strategy going in to a Federal Reserve rate hike.

  • Challenges for an NBA owner

    Joe Lacob bought the Golden State Warriors in 2010 for $450 million, and discussed the similarities between building a startup as well as an NBA team, with CNBC's Josh Lipton.