Clearly, pun intended, Sprint didn't think it's ridiculous low ball bid for Clearwire was going to fly at the Special Shareholder Meeting scheduled for May 21. So, early today it raised the insulting bid of $2.97 to $3.40. At no time in recent weeks has the share price of Clearwire sold anywhere near the $2.97 because everyone knew the price was ridiculous and DISH had an overbid out there at $3.30. Since Hope Cochran CFO was in NY in late 2011 with a deal book showing the worth of the company and mainly its spectrum at multiples of these current prices, she will have a tough time explaining in court (many lawsuits ongoing) how shareholders should accept $2.97 or now $3.40.
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