Charlie's bid is only a 5% gain over the current price and if Clearwire takes the Sprint financing bait we will probably see a 5% drop. The reason I'm holding is the unexpected. The naysayer's said Sprint wouldn't make an offer because they were already milking the cow. And the same people said there was no way Charlie was actually serious. Now those same people are saying Google and others don't have any real interest. I'm waiting to see if this turns out to be like an Ebay auction where the truly serious bidders don't show up till the last minute.
What naysayers said Sprint would not make an offer?
For the most part, CLWR has been more plagued by over-expectation than 'naysayers'.. the stock is down from ~20 to where the current speculation is whether it will move up to 3 something. How could naysayers, even those with unreasonable arguments be said to have been wrong overall?
Sprint/Hesse and Son had said that they did not plan to take out Clearwire and the agreements and statements from Clearwire indicated they were moving forward with plans to deploy LTE. So, having said that Sprint was unlikely to move ahead to acquire the company at the time was not unreasonable. What had been clear all along was that Softbank would make use of the 2.6GHz spectrum. What would have been a better situation, the offers to acquire Clearwire now or for the comp[any to have continued under the build agreements as LTE begins to ramp? I guess those expecting Sprint-SB to do what they said prior to the take-out-of-misery offer were wrong and that the timing was a good thing for shareholders... yea man.
Those that have access to billions of dollars, control the game. Since the rules of the game have not been set for this M&A, serious offers are still outstanding. The current offers made were initial response based on current desparado circumstances. Once the feds come back with clarity, we should see who the real players will be. I think Sprint by virtue of their ownership rights will be entitled to keep something. Not sure how that will play out with the SB deal. But the pandora box will be open and if they have to divest themselves of spectrum, there will be takers. If CLWR spectrum is not capped, it will be interesting to say the least as to who else gets in the game. McCaw knew this was not going to be easy, now we understand the option deal he got. Stanton has not sold out yet, must be for a reason.
Contrary to those who like suggesting the current offers are fair, acceptable or otherwise the price range which a deal will be completed within...they don't have any more than a guess to support their position, the deal is not complete therefore other possibilities exist.
A good example would be for me to say the courts are going to nullify the restrictive Sprint agreements concerning the sale of spectrum by Clearwire, because an overall fairness review indicates the BoD has not acted in the best interest of minority share holders. Now that is a guess with the same credibility as saying a deal will be done within the two current offers or even at $8.
No deal is complete yet and others may still enter the fray for a portion of the company or spectrum if they see that the DISH offer has highlighted a way for them to capture some frequency bands without Sprint oversight or veto authority.