Sprint Nextel‘s (S) $2.90 per share offer to buy the rest of Clearwire (CLWR) it doesn’t already own is near the top range of where the wireless broadband firm’s stock traded after Japan’s Softbank emerged as a Sprint investor.
In a regulatory filing Thursday, Sprint said it has offered $2.90 per share, about $2.1 billion, for the 48% of Clearwire it doesn’t already own, marking the latest round in a long-running saga.
In a statement, Clearwire said it “continues to be in discussions with Sprint to explore a transaction. There can be no assurance as to the terms of any potential transaction or that any transaction will result.”
Shares in Clearwire doubled in early October after rumors surfaced that Japan’s Softbank would buy a stake in Sprint, the nation’s third-largest wireless firm.
Clearwire shares gained 16% to $2.69 per share on Oct. 15, when Softbank announced it would buy 70% of Sprint for $20.1 billion, giving the wireless firm a much-needed cash infusion. Clearwire shares traded as high as $2.96 in intra-day trading on Oct. 15.
However, shares fell a few days afterward when Sprint said it had acquired voting control of Clearwire through a deal with shareholder Eagle River Holdings.
Amid the stock volatility, shares in Clearwire were up 41% in 2012 at Wednesday’s close. The stock was up 11%, near 3.06, early Thursday’s open. Sprint shares were down less than 1%, near 5.63.
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