News & Events

The Firm represented the Special Committee of the Board of Directors of Clearwire Corporation (NASDAQ: CLWR) in connection with the Special Committee’s review of strategic alternatives available to the Company, including proposals from Sprint Nextel Corporation (NYSE: S), which has resulted in the announced agreement by Sprint to acquire the remaining shares of Clearwire that Sprint does not already own for $2.2 billion, or $2.97 per share.  The Sprint transaction, including Clearwire’s outstanding debt and spectrum lease obligations, represents a total enterprise value for Clearwire of approximately $10 billion.

Clearwire, through its operating subsidiaries, is a leading provider of 4G wireless broadband services offering services in areas of the United States where more than 130 million people live.  Clearwire holds the deepest portfolio of wireless spectrum available for data services in the United States.  Sprint offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint served nearly 56 million customers at the end of the third quarter of 2012 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States.

The Simpson Thacher team includes Rob Spatt, Marni Lerner, Chase D’Agostino and Michael Goldberg (M&A); Joe McLaughlin and David Tejtel (Litigation); and Marissa Wesely (Finance).