After more than six months of back and forth, Clearwire is officially a part of Sprint. Sprint closed its acquisition of Clearwire today, paying $5 per share, up from the original $2.60 offer that the wireless carrier put on the table in November. Sprint later upped its offer to $2.97 per share in December. (Editor’s note: This post has been updated with the correct initial offer from Sprint).
The price kept increasing as Dish Network bid up the deal, finally dropping out of the running late last month. That’s raised some speculation that Dish may try to go after Bellevue-based T-Mobile, the country’s fourth largest wireless carrier. Both Dish and Sprint coveted Clearwire for its strong wireless spectrum position.
Clearwire shareholders approved the Sprint deal on Monday, and the transaction officially closed today.
“We are pleased that our stockholders recognize the value and merits of our merger with Sprint,” said Erik Prusch, President and CEO of Clearwire, in a statement on Monday. “The Clearwire team is looking forward to working closely with our counterparts at Sprint to realize the potential of our assets inherent in this combination as we integrate our two companies.”