Sprint Nextel Corp is under no pressure to raise its $2 billion offer for Clearwire Corp to beat a higher bid by Dish Network Corp as it holds several trump cards it can play to thwart its rival, three sources close to the matter said. Clearwire, which owns valuable mobile spectrum that Dish, Sprint and Sprint's Japanese buyer Softbank Corp want badly, is duty-bound to consider Dish's $3.30 per share proposal that tops an agreed-upon $2.97 offer from Sprint.Satellite TV company Dish's offer for the wireless company has invited speculation of a bidding war or at least a small sweetener from Sprint, with Clearwire shares closing up 7.2 percent on Wednesday at $3.13.But Sprint, the No. 3 U.S. wireless operator and Clearwire's biggest shareholder owning just over 50 percent of the company, thinks it won't come to that, said the sources, who spoke on condition of anonymity because the discussions are not public.Dish's bid is subject to numerous conditions, not least of which is approval by Sprint.
DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH traded higher by 2.45% or $0.88/share to $36.85. In the past year, the shares have traded as low as $26.12 and as high as $37.92. On average, 3389480 shares of DISH exchange hands on a given day and today's volume is recorded at 4968727.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S fell by 1.51% or $-0.09/share to $5.88. In the past year, the shares have traded as low as $2.10 and as high as $6.04. On average, 56502400 shares of S exchange hands on a given day and today's volume is recorded at 66413932.
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