Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Sprint Closes Acquisition Of Clearwire - Quick Facts

RELATED NEWS
Trade S now with 

Sprint Nextel Corp. (S: Quote) announced the successful completion of its transaction to acquire 100 percent ownership of Clearwire Corp (CLWR: Quote).

The merger agreement was first announced on December 17, 2012 and Clearwire shareholders approved the transaction at a special meeting of stockholders held on July 8, 2013. The transaction closed and became effective today.

At the effective time, each share of Class A common stock of Clearwire automatically converted into the right to receive $5.00 per share in cash. As a result of the completion of the transaction, the common stock of Clearwire will no longer be listed for trading on the NASDAQ stock exchange and Clearwire expects no further trading after the close of business on July 9, 2013, the companies said.

As the terms of the Indenture, dated as of December 8, 2010, by and among Clearwire Communications LLC, Clearwire Finance, Inc., the guarantors named therein and Wilmington Trust, National Association, as trustee, the transaction constitutes a Fundamental Change for the purposes of the 8.25% Notes Indenture with an Effective Date of July 9, 2013.

Click here to receive FREE breaking news email alerts for Sprint Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The Islamic State (IS), a Sunni extremist group previously known as Islamic State of Iraq and the Levant (ISIL), has released a video purporting to show the beheading of US journalist Steven Sotloff, media reports said Tuesday. According to reports, the video also showed a masked man threatening to execute a British man named David Haines. He also warned governments to stay away "this evil allian Less than a month after resigning from Congress, former House Majority Leader Eric Cantor, R-Virg., has made the move from Washington to Wall Street by joining boutique investment bank Moelis & Co. A statement from Moelis said Cantor will serve as Vice Chairman and Managing Director and also be elected to the company's Board of Directors. Stocks continue to show a lack of direction in mid-day trading on Tuesday following the long, holiday weekend. Even with the lackluster performance, the markets are largely holding on to the bulk of their recent gains.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.