We look forward to working with Clearwires Special Committee as it evaluates our proposal, Tom Cullen, special education Dish executive vice president of corporate development, said in a statement.
Saying it still expected to close its deal with Clearwire, Sprint called its offer superior to Dishs. The Dish proposal includes a series of interdependent commercial agreements, debt and equity purchases, and spectrum sales, which together with the other conditions required by Dish to complete the transaction,Good examples From The Options That Come With Internet Based Learning. makes the proposal not viable, the company said in a statement. In addition, the Dish proposal would require Sprint to voluntarily waive rights that it holds as a stockholder of Clearwire and that it possesses through various vendor and customer contracts that significantly predate Sprints proposed acquisition of the remainder of Clearwire. Sprint does not intend to waive any of its rights and looks forward to closing the transaction with Clearwire and helping consumers across the country realize the benefits of this combination.
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 (some of which, as currently proposed, may not be permitted under the terms of Clearwires current legal and contractual obligations), the company said in a statement.
The satellite TV providers unsolicited offer for the wireless broadband company is more than 10 percent higher than Sprints.
Dish confirmed its interest in the wireless broadband carrier this afternoon in a brief statement.
Sprint announced in December that the two companies had agreed to a deal for the No. 3 U.S. wireless carrier to acquire Clearwire for $2.97 per share, or $2.2 billion, giving Clearwire a value of $10 billion when its debt and lease obligations are taken into account.
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However, the satellite TV provider must finish 40 percent of its LTE network within the next four years, and 70 percent within seven years. An acquisition of Clearwire may give it a head-start on those deadlines.
Dish Network made an unsolicited bid to buy Clearwire for $5.15 billion, upping the ante for Sprint Nextel, which entered into an agreement last month to purchase the 50 percent of the wireless broadband provider it does not already own.
Updated at 5:30 p.m. PT with Sprint comment and at 9:45 p.m. to correct offer size in headline.
Clearwire said in a statement this afternoon that its ability to negotiate with Dish was significantly limited by its current contractual arrangements with Sprint but that it was obligated by fiduciary responsibilities to discuss the proposal with Dish.
Steven MusilSteven Musil is the night news editor at CNET News. Before joining CNET News in 2000,apps for education Lenovo Bringing Chromebook to Classrooms News Opinion PCMagcom. Steven spent 10 years at various Bay Area newss. E-mail Steven.
Clearwire, which provides 4G services to carriers and consumers in select markets, controls wireless spectrum that could be valuable to Dish, which recently won approval from the Federal Communications Commission to build its own LTE network.
Dish is offering $3.30 per share for all outstanding shares in Clearwire, about 11 percent more than Sprints offer, and a 13 percent premium over todays closing stock price. The stock price was up 23 cents, or 7.8 percent, to $3.15 a share in after-hours trading.
