“Sprint Nextel Corp. (S) offered to take over its Clearwire Corp. (CLWR) in a $2.1 billion deal, ending a four- year joint venture that struggled to build a nationwide network capable of challenging Verizon Wireless and AT&T Inc. (T)
Sprint, which already owns more than 50 percent of Clearwire, is seeking to acquire the remaining shares at $2.90 each, according to a regulatory filing today. That’s 5.5 percent more than the stock’s closing price in New York yesterday. Sprint proposed to provide interim financing of as much as $800 million to help keep the money-losing Clearwire afloat.”
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