Clearwire Corp agreed to sell a roughly 50 percent stake for $2.2 billion to majority shareholder Sprint Nextel Corp, which would then have full ownership of spectrum that will help it offer high-speed wireless services.The $2.97-per-share deal is only 7 cents per share higher than a bid many minority shareholders said was too low days before. Clearwire shares slid 9.8 percent to $3.04 in premarket trading.Sprint already owns slightly more than half of Clearwire. The company said owners of 13 percent of Clearwire shares - Comcast Corp, Intel Corp and Bright House Networks LLC - had agreed to vote for the deal.But it was not immediately clear whether Sprint, the No. 3 U.S. wireless carrier, could win the backing of a majority of Clearwire's minority shareholders, which it needs to take control.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S traded higher by 1.08% or $0.06/share to $5.61. In the past year, the shares have traded as low as $2.10 and as high as $6.04. On average, 65806400 shares of S exchange hands on a given day and today's volume is recorded at 4962492.
Source
