{"id":5059,"date":"2012-12-18T00:50:59","date_gmt":"2012-12-18T04:50:59","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=5059"},"modified":"2012-12-18T00:50:59","modified_gmt":"2012-12-18T04:50:59","slug":"sprint-increased-the-price-after-shareholders-rejected-its-earlier-price-clwr","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/sprint-increased-the-price-after-shareholders-rejected-its-earlier-price-clwr-5059","title":{"rendered":"Sprint increased the price after shareholders rejected its earlier price- CLWR"},"content":{"rendered":"<p>Mount Kellett Capital Management LP\u00a0 which does the managing of accounts with beneficial possession of 58.2 million shares or 3.6 % of Clearwire Corporation (NASDAQ:CLWR) said on Friday that Sprint Nextel Corporation (NYSE:S) buyout price of $2.90 per share offer grossly undervalues the wireless service provider.<\/p>\n<p>In a letter the day after Sprint Nextel Corporation (NYSE:S) announces its $2.1 billion bid, Mount Kellett announced that Clearwire Corporation (NASDAQ:CLWR) spectrum procession and the other asserts likely valued the company at $6.30 a share. It also urged the Clearwire Corporation (NASDAQ:CLWR) board not to accept it and said it would be an outrage to sell at $2.90 per share and is a clear breach of the board\u2019s fiduciary responsibility to the public stock holder. Clearwire Corporation (NASDAQ:CLWR) has great long-term value and if Sprint Nextel Corporation (NYSE:S) wants to buy the company it should provide a fair proposal which can be mutually accepted by both sides.<\/p>\n<p>Mount Kellett quoted there is no rush for the company to sell itself at deeply discounted prices. The share prices of Clearwire Corporation (NASDAQ:CLWR) were almost up by 15 percent on Thursday to $3.16 after the offer was announced. Several investors said and felt the offer of $ 2.90 was too low. It is also cited that Sprint Nextel Corporation (NYSE:S) will not increase its bid if Softbank insist on bidding cap.<\/p>\n<p>The shares of Sprint Nextel Corporation (NYSE:S) were up by 0.18% to close at $5.56<\/p>\n<p>The shares of Clearwire Corporation (NASDAQ:CLWR) was down by 13.65% to close at $2.91.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mount Kellett Capital Management LP\u00a0 which does the managing of accounts with beneficial possession of 58.2 million shares or 3.6 % of Clearwire Corporation (NASDAQ:CLWR) [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":5060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[262],"tags":[1492,1217],"stock_ticker":[],"class_list":["post-5059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rumors","tag-nasdaqclwr","tag-nyses","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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