Sprint Nextel Corp. reached a deal to acquire the 49 percent stake in wireless network operator Clearwire Corp. that it doesn’t already own, by announcing a $2.2 billion agreement on Monday.
The deal completes the merger which was widely expected by analysts, but nonetheless was lower than some market bulls had hoped. Sprint’s original offer last month was $2.60 per share, but increased it to $2.90 per share last Thursday.
That offer drove up Clearwire’s share price even further, but a final offer of $2.97 per share was agreed upon on Monday, sending Clearwire’s share price lower during after-market trading.
