Yes, sprint is going to buy CLWR for a little as possible using legal methods. They own 49% now, 7% just came on the market at 1.35, comcast and intel want out so my guess 3.75 for CLWR. CLWR will open monday at $2.50. So many people have been burn in this stock over the years so they probably will not have to pay too much for it.
Credit Suisse is the big winner on the CLWR deal... and yes, Sprint will do what ever it can to get the rest of Clearwire as cheaply as they can. I expect to see a shareholder class action lawsuit in the aftermath of the Clearwire buyout with shareholders getting pennies on the dollar for the overall market value of the spectrum Clearwire owns.
I wouldn't be surprised to see excess spectrum sold to dish, possibly after the deal closes with the new Softbank/Sprint entity pocketing the proceeds. The fair thing to do is to sell spectrum and return the money to shareholders in a form of a special dividend, but I doubt that will happen. Again, I see a big class action lawsuit stemming from the acquisition of Clearwire.