Summary:

Clearwire (NSDQ: CLWR) filed a proxy statement with the SEC today, asking shareholders to vote for the merger between the Kirkland-based com…

Clearwire (NSDQ: CLWR) filed a proxy statement with the SEC today, asking shareholders to vote for the merger between the Kirkland-based company and the WiMax division of its biggest competitor Sprint (NYSE: S) Nextel. The vote will take place at a shareholders meeting, which has not yet been set, however, Clearwire expects the transaction to close by the end of the year. Reuters explained that Clearwire will end up issuing about $1.62 billion worth of shares to their existing Clearwire shareholders. The price was based on Wednesday’s closing price of $9.76 a share. Following the deal’s close, which is still pending regulatory approval, the new venture will receive a $3.2 billion injection from a group that includes Comcast (NSDQ: CMCSA). Time Warner (NYSE: TWX), Intel (NSDQ: INTC), Google (NSDQ: GOOG) and Bright House. The shares will then be worth somewhere between a range of $17 to $23 with the aim of $20. The price will be determined based on 15 randomly selected trading days.

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