Sprint followed through on its bid to buy the remaining portion of Clearwire that it doesn’t own, and will spend $2.2 billion or $2.97 per share to complete the deal, the operator announced Monday. The deal by Sprint, which already owned 51.7 percent of Clearwire, values the 4G provider at about $10 billion, including net debt and spectrum lease obligations of $5.5 billion.
Sprint’s bid offers a 128 percent premium over Clearwire’s closing share price right before Sprint confirmed it was talking to Softbank about an investment on October 11. And it’s slightly more than the $2.90 a share Sprint offered last week, according to a regulatory filing. Softbank’s decision to invest $20.1 billion to buy a 70 percent stake in Sprint provided Sprint with $8 billion in cash, making the deal possible.
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