Clearwire Corp. (CLWR) announced its Special Committee of the Board and its Board of Directors have each approved the revised offer from Sprint (S) to acquire the approximately 50 percent stake in the company it does not currently own for $3.40 per share.
The Special Committee of the Board determined that the revised offer, when compared with other potential transactions reasonably available to the company at this time, is the most favorable potential transaction to its unaffiliated stockholders.
The special meeting of stockholders of Clearwire will reconvene on May 31, 2013. The record date for stockholders entitled to vote at the special meeting remains April 2, 2013.
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