Sprint sues to stop Dish Clearwire buyout
Source: AP-Excite
OVERLAND PARK, Kan. (AP) - Sprint is suing to stop Dish Network's buyout of wireless data network operator Clearwire. The nation's third-largest cellphone carrier said the proposed deal violates the rights of Sprint and other Clearwire shareholders.
Dish has offered to pay $4.40 per share for Clearwire, which has recommended that its shareholders approve the offer. That reverses its earlier stance in support of a takeover bid by Sprint, its majority shareholder.
Sprint, headquartered in Overland Park, Kan., has bid $3.40 per share for the minority stake in Clearwire it doesn't already own.
Dish Network Corp., based in Englewood, Colo., a satellite broadcaster, has said its offer is contingent on being able to buy 25 percent of the company.
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Read more: http://apnews.excite.com/article/20130618/DA704A704.html
