txlaw Posted January 8, 2013 Share Posted January 8, 2013 DISH makes $5.15 billion bid for CLWR!!!! http://dealbook.nytimes.com/2013/01/08/dish-network-makes-bid-for-clearwire-trumping-sprint-offer/ Hot damn! I love being right and making money at the same time. Your move, Dan. Damn! I never got around to doing my research on CLWR for my account, but congrats to you and those who did! Thanks! brker_guy, where you at? Link to comment Share on other sites More sharing options...
txlaw Posted January 8, 2013 Share Posted January 8, 2013 More details: http://corporate.clearwire.com/releasedetail.cfm?ReleaseID=732316 The DISH Proposal, as further summarized below, provides for DISH to purchase certain spectrum assets from Clearwire, enter into a commercial agreement with Clearwire, acquire up to all of Clearwire's common stock for $3.30 per share (subject to minimum ownership of at least 25% and granting of certain governance rights) and provide Clearwire with financing on specified terms. Everything that was telegraphed by CLWR in the S/CLWR presentation has been put up by Ergen. Spectrum sale. Commercial arrangement. And financing and tender offer to boot. Time to kick Hesse to the curb. Link to comment Share on other sites More sharing options...
brker_guy Posted January 8, 2013 Share Posted January 8, 2013 My Oh my!!!! Just got off a plane and saw this headline... Wow!!!! I am stunned! I told you Dan "Hustle" Hesse sux!! Let's the price war begins for CLWR!!! Link to comment Share on other sites More sharing options...
Cardboard Posted January 9, 2013 Share Posted January 9, 2013 There will be no bidding war for Clearwire. Sprint mentioned this bid to be illusory and they are right based on the legal structure. We had a chance if Stanton and McCaw had fought for us, maybe that they tried, but have now given up. Same for Intel, Comcast and Brighthouse. IMO, this bid is entirely designed to get concessions from Sprint by Dish. Ergen likes to sue and to fight and it has been designed to also give ammo to Crest. The timing to block the first tranche of financing on Jan 2 was also very important. Best case, Sprint ups its bid to around $3.30 to remove litigation potential and makes a deal with Dish on the side. Worst case, the special committee comes back saying that Dish's proposal has too many conditions, not legally and structurally feasible and the deal is still completed at $2.97. Either way, I don't see much upside left here. There are better ideas than CLWR out there. Cardboard Link to comment Share on other sites More sharing options...
brker_guy Posted January 9, 2013 Share Posted January 9, 2013 Cardboard, Don't know if you read Rob Powell, but I agree with his POV here: http://www.telecomramblings.com/2013/01/what-dish-wants/ Link to comment Share on other sites More sharing options...
txlaw Posted January 9, 2013 Share Posted January 9, 2013 There will be no bidding war for Clearwire. Sprint mentioned this bid to be illusory and they are right based on the legal structure. We had a chance if Stanton and McCaw had fought for us, maybe that they tried, but have now given up. Same for Intel, Comcast and Brighthouse. IMO, this bid is entirely designed to get concessions from Sprint by Dish. Ergen likes to sue and to fight and it has been designed to also give ammo to Crest. The timing to block the first tranche of financing on Jan 2 was also very important. Best case, Sprint ups its bid to around $3.30 to remove litigation potential and makes a deal with Dish on the side. Worst case, the special committee comes back saying that Dish's proposal has too many conditions, not legally and structurally feasible and the deal is still completed at $2.97. Either way, I don't see much upside left here. There are better ideas than CLWR out there. Cardboard Cardboard, you may be right in terms of an S/DISH side deal. But I'm not so sure the deal as proposed is illusory. The tender offer may be, but the spectrum purchase, commercial agreement, and financing deal could easily be legit. In fact, there are many terms of the financing side that are the same as what Sprint offered (exchangeable notes that dilute over time, for example). If Ergen were to sweeten the deal for the CLWR board during their talks, they may determine that they should go with Ergen, and then Sprint will have to start worrying about the whole dilution aspect. That will really force S to the table with DISH. Then a JV becomes more likely. The interesting thing is that the per MHz-POP valuation keeps creeping up. The question now is, assuming there is a deal to be had between DISH and S, how many extra cents per MHz-POP will get Crest and Mount Kellett to go away? I'm starting to debate how much CLWR I should hold onto now, though. There are other opportunities that I'd like to put money into. Link to comment Share on other sites More sharing options...
giofranchi Posted January 13, 2013 Share Posted January 13, 2013 A new article on Seeking Alpha about Clearwire and DISH: http://seekingalpha.com/article/1108461-clearwire-with-dish-entering-the-fray-a-higher-offer-from-sprint-is-on-the-way?source=feed giofranchi Link to comment Share on other sites More sharing options...
brker_guy Posted January 24, 2013 Share Posted January 24, 2013 TxLaw, I don't know if you saw this news yet, but this will be of interest to you: http://www.telecomramblings.com/2013/01/googles-up-to-something-secret-of-the-wireless-variety/#more-19675 Google is working on something using CLWR's spectrum... Link to comment Share on other sites More sharing options...
txlaw Posted January 24, 2013 Share Posted January 24, 2013 TxLaw, I don't know if you saw this news yet, but this will be of interest to you: http://www.telecomramblings.com/2013/01/googles-up-to-something-secret-of-the-wireless-variety/#more-19675 Google is working on something using CLWR's spectrum... Very, very interesting, brker_guy. Link to comment Share on other sites More sharing options...
brker_guy Posted January 24, 2013 Share Posted January 24, 2013 So, here are more detailed on it along with the FCC filings: http://stevencrowley.com/2013/01/23/googles-confidential-test-might-be-a-super-dense-lte-network-using-clearwires-spectrum/ https://apps.fcc.gov/oetcf/els/reports/442_Print.cfm?mode=current&application_seq=54371&license_seq=54896 If Google wants to sell LTE Android phones, the 2.6 GHz band is where they need to be. It’s globally harmonized for LTE. Clearwire’s TD-LTE system, due to launch in mid-2013, will allow infrastructure and terminal compatibility with China Mobile and Japan’s Softbank, and those devices may work with 2.6 GHz systems in other countries. Link to comment Share on other sites More sharing options...
txlaw Posted January 24, 2013 Share Posted January 24, 2013 Ars on the development at Google: http://arstechnica.com/business/2013/01/google-testing-new-wireless-network-asks-fcc-to-keep-details-secret/ Link to comment Share on other sites More sharing options...
brker_guy Posted January 24, 2013 Share Posted January 24, 2013 TxLaw, If I were the plaintiffs suing Sprint for CLWR, I would be monitoring this event in the UK for the next few weeks: http://www.bbc.co.uk/news/technology-21160814 Ofcom, our equivalent of the FCC, is about to auction their 4G spectrum, the same spectrum that CLWR sits on, to know how much the per MHz-POP goes for... Link to comment Share on other sites More sharing options...
txlaw Posted January 29, 2013 Share Posted January 29, 2013 brker_guy, DOJ, FBI, and DHS are asking the FCC to delay the Sprint-Softbank deal while they review: http://gigaom.com/2013/01/29/justice-department-asks-fcc-to-put-sprint-softbank-on-hold/ More time for Charlie Ergen to make trouble for Sprint? Link to comment Share on other sites More sharing options...
txlaw Posted February 1, 2013 Share Posted February 1, 2013 Some fascinating presentations on the offers that CLWR got over the last few months and the options that CLWR has been considering going forward, including Chapter 11. http://www.sec.gov/Archives/edgar/data/1442505/000119312513033783/0001193125-13-033783-index.htm It is now confirmed that DISH offered to buy excess spectrum and even expressed willingness to use CLWR debt as partial consideration. I have completely sold out of my CLWR position at this time, but I'm still following with interest. I hope that brker_guy gets some additional gains through a sweetened bid and collaboration between S and DISH. Link to comment Share on other sites More sharing options...
Guest wellmont Posted February 1, 2013 Share Posted February 1, 2013 clwr bod and mgmt were simply puppets of sprint. even comcast and intel and all the other strategics were in S pocket. this was never a fair process. S had clwr by the you know what... Link to comment Share on other sites More sharing options...
brker_guy Posted February 1, 2013 Share Posted February 1, 2013 TxLaw, It is fascinating to learn about the due diligence offered up by Sprint, isn't it? Well, the only DAWG that I am getting rid from my accounts is Sprint. I am sitting tight to watch the end of the movie with that other Canine. The floor for that Canine is $3.20. So, this DAWG here ain't going nowhere... brker_guy Link to comment Share on other sites More sharing options...
brker_guy Posted February 1, 2013 Share Posted February 1, 2013 Look who is trying to stop CLWR's spectrum usage. http://apps.fcc.gov/ecfs/document/view?id=7022113535 Verizon says the FCC should cap Clearwire’s spectrum with a “spectrum screen” as it does in other bands. Sprint has argued that Clearwire’s spectrum is above 2 GHz and so should not be applied to its purchase of Clearwire, although Clearwire is already using 2.6 GHz spectrum for mobile broadband. SOB!!!!!! Now, VZ is forcing me to hate them too? I already hate AT&T and Comcast. Link to comment Share on other sites More sharing options...
txlaw Posted February 13, 2013 Share Posted February 13, 2013 brker_guy, here's some must watch videos of Charlie Ergen's recent allthings interview: http://allthingsd.com/tag/charlie-ergen/ Link to comment Share on other sites More sharing options...
txlaw Posted February 13, 2013 Share Posted February 13, 2013 Full video here. http://allthingsd.com/conferences/dive-into-media/livestream/?mod=atd_divemedia2013_300x100_livestreamduringpost Link to comment Share on other sites More sharing options...
asw310 Posted April 4, 2013 Share Posted April 4, 2013 I wonder what Charlie Ergen is up to here.... http://blogs.wsj.com/overheard/2013/04/02/charlie-ergens-white-rabbit/?mod=WSJBlog&mod=overheard And Crest still at it, too... http://www.prnewswire.com/news-releases/crest-proposes-debt-financing-to-clearwire-as-alternative-to-sprint-financing-201295081.html Link to comment Share on other sites More sharing options...
brker_guy Posted April 4, 2013 Share Posted April 4, 2013 I told you this DISH-CLWR and S-CLWR movie isn't over yet... :D Link to comment Share on other sites More sharing options...
brker_guy Posted April 11, 2013 Share Posted April 11, 2013 If anyone of you who still follow this CLWR/S/DISH saga, you will like this story... According to Bloomberg, Dish Network now has a record $10 billion in cash in hand, about as much as oil and gas giant Exxon Mobil: http://www.businessweek.com/news/2013-04-09/dish-deals-made-possible-by-exxon-like-cash-real-m-and-a So, the question is: what for? Something is really cooking at DISH, and only Charles Ergen knows... Link to comment Share on other sites More sharing options...
asw310 Posted April 11, 2013 Share Posted April 11, 2013 Should get interesting the next few weeks. As it sits today, I'm still not convinced Sprint can get the votes. Could go either way, but let's get real: $3.30 is bigger than $2.97. Gotta feeling shareholders will vote based on something that simple. There's been some speculation that Ergen was loading up to go after PCS and/or other spectrum assets, but the new offer announced today should assuage those concerns. I still think CLWR is what he really wants. 2.5ghz is the future. We'll see. Maybe he's gearing up for bidding war. Or maybe I'm completely off base haha. Link to comment Share on other sites More sharing options...
brker_guy Posted April 11, 2013 Share Posted April 11, 2013 T-Mobile just sweetened the pot for PCS... http://dealbook.nytimes.com/2013/04/10/deutsche-telekom-said-ready-to-sweeten-t-mobile-bid-for-metropcs/ So, not sure if Ergen would want to come in on that one while he already has a bet going with CLWR... Link to comment Share on other sites More sharing options...
asw310 Posted April 11, 2013 Share Posted April 11, 2013 Should have been more clear in my last post by saying "the new T-Mobile offer announced today should assuage those concerns". I meant Ergen might be gearing up for a further bidding war with Sprint over clwr. Might be wishful thinking as a clwr shareholder. Link to comment Share on other sites More sharing options...
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