The Reality...LOL...hold and VOTE NO to S...we will get more or BK S so #$%$ HESSE
However, the Dish bid has convinced many of Clearwire's minority shareholders that enough discontent exists to potentially block Sprint's bid.
"Sprint can't get 50 percent of those shares. They've no way to get them," said Chris Gleason, a managing partner at Taran Asset Management, which owns about 3 million Clearwire shares.
Mount Kellett, an investment firm with about 7.3 percent of Clearwire's minority shares, said Dish's offer is proof Sprint's bid is "grossly inadequate." Mount Kellett also said it is likely to be voted down and accused Clearwire's board of breaching its fiduciary duties for accepting the bid.
Another investment manager whose firm's holdings include Clearwire shares said the Dish offer was a turning point.
"If somebody was on the fence about saying no to Sprint, they're not on the fence any more," said the investment manager who asked not to be named due to their firm's policy on media comments.
"Anybody who thinks $2.97 is a full and fair value has already exited," said the person, referring to the fact that Clearwire shares have traded well above Sprint's offer price since Dish announced its bid. Clearwire shares were up 6 percent above Sprint's offer price at $3.16 on Friday.
This person described the $2.97 offer as "dead on arrival."
BK will not happen even if the merger does not happen. when clearwire runs out of cash, they cannot declare bk because at that time sprint or another company will offer them a loan but with condition. that is the loan will get converted into clearwire shares. and guess what, clearwire has no choice but to accept the loan because 7 out of 13 directors are nominated by sprint and they will not allow bk. it is not management who will decide bk. it is the decision of the board of directors. so in the end, all of the current shareholders will get diluted and they will not worth 2.97 anymore. anyone who thinks in bk he will get more for his shares is just embracing a grand delusion.