A top
Clearwire (
CLWR) shareholder is waging a proxy war in an effort to stop
Sprint's proposed takeover of the troubled wireless provider,
AllThingsD reported.
Sprint (
S) is looking to acquire Clearwire for $2.97 per share, however Crest Financial, Clearwire’s largest minority shareholder, believes the offer undervalues the company and its spectrum. The Houston-based investment company hired a proxy solicitation firm last month to help it fight the deal, and also sued Clearwire and its board for breaching their fiduciary duties.
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