Barrel of a gun

19 June 2013 By Robert Cyran Follow @rob_cyran

The satellite TV company won’t up its bid for Sprint, paving the way for SoftBank to buy the U.S. telecom provider. Instead it’s focusing on winning a chunk of Sprint’s subsidiary, Clearwire. Dish’s switch in tactics may yet be enough to force SoftBank to sign a peace agreement.

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Dish Network said on June 18 that it would not make a revised offer for Sprint Nextel before the June 19 deadline, and would instead concentrate on its tender offer for Clearwire.
Sprint’s board has recommended a $21.6 billion offer by Japan’s SoftBank. Dish said, however, that it will consider its options in regard to Sprint.
Sprint owns a majority of Clearwire and is attempting to buy out remaining shareholders in the wireless firm. Last week Clearwire’s board recommended its shareholders accept Dish’s tender offer of $4.40 per share and vote against Sprint’s $3.40 per-share offer at a special meeting scheduled for June 24.
Dish’s offer is contingent on it receiving 25 percent acceptance. Sprint owns slightly more than half of Clearwire and has signed agreements with other shareholders that will raise its ownership to about 65 percent.

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