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Dish Network has thrown a wrench into Sprint Nextel’s plans to purchase the 50 percent of Clearwire it doesn’t already own by making an unsolicited offer to purchase the wireless-broadband provider.
Clearwire disclosed after the market’s closed on Tuesday that it has received a bid of $3.30 from Dish, though Clearwire had already agreed to sell itself to Sprint Nextel for $2.97 a share.
The offer from Dish amounts to just under $5.2 billion when Clearwire’s debt and cash on hand are considered.
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Shares of Clearwire closed fractionally higher at $2.92 on Tuesday and surged 9 percent to $3.18 in after-hours trading once the Dish offer was made public.
“The Dish proposal is only a preliminary indication of interest and is subject to numerous, material uncertainties and conditions, including the negotiation of multiple contractual arrangements being requested by Dish … It is also subject to regulatory approval,” Clearwire said in a statement.
Dish confirmed its offer in a separate statment.
“Dish Network Corp. confirmed today that it has formally approached Clearwire Corp. with respect to a potential strategic transaction on terms as generally outlined in the Clearwire release, including an offer to purchase all of the clearwire common shares.”
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