But even with the ISS recommendation in favor of the deal, Chris Gleason, a principal at Taran Asset Management, which owns about 1 million Clearwire shares, said the deal has "zero chance" of being approved at the May 21 meeting.
"It's not a situation where the vote is controlled by people who vote with ISS," said Gleason, noting that hedge funds, which represent a large amount of Clearwire shares, are not required to vote in line with ISS.
source: reuter article: Proxy firms divided on Clearwire-Sprint deal
if you are long clwr, then don't worry about the yes vote. You should worry at what price it will trade with a no vote. If it is a no vote and sprint will not increase its offer and just happy with 67% of the shares, then clwr will drop to less than 2. remember the only trade off for sprint between holding 67% of the shares and all of it is how much more it will cost sprint to run clearwire as a separate entity compared to folding into sprint. this trade off only lasts to november at which time sprint will force a change in corporate governance that will favor the final outcome toward sprint.