Your first and 4th paragraphs are pretty much correct in their reasoning. The problem with your conclusion in paragraph 1, however, is that CLWR is building it's network to compensate for the deficiencies that you point out... and that we all are already aware of on this board. If you feel that CLWR's technology, and not their customer's 4G experience, is what's going to make or break this company, then I would say that you are wrong.
Paragraph #3 is your opinion and I respect it even though I disagree with most of it since I've seen bitter corporate rivals merge many hundreds of times in my lifetime and think that mergers could well happen in this industry as well.
Paragraph #2 tells me that your expertise is much better with the technical aspects of WiMax VS LTE and beachfront property VS 2.5ghz than it is with the subject of tender offers of public companies.