Dish backs out of Clearwire bid, nothing to stop Sprint now
I guess Sprint’s $5 a share offer was too rich for Dish’s blood, causing them to fold on their Clearwire acquisition. They announced today via press release that they are now formally withdrawning their bid to purchase Clearwire, with nothing standing in the way of the soon-to-be-Softbank-owned Sprint. This finally ends a brutal bidding war for Clearwire and their spectrum. With a valuation of around $14 billion, Sprint’s going to have to dig deep into their pockets to find the money for Clearwire. Enjoy your victory, Sprint.