BELLEVUE, Wash., May 13, 2013 (GLOBE NEWSWIRE) -- The Board of Directors of Clearwire (Nasdaq:CLWR) ("Clearwire" or the "Company") today mailed a letter to stockholders in connection with its proposed transaction with Sprint recommending that stockholders vote 'FOR' the proposed transaction. The letter highlights the favorable recommendations of leading proxy advisory services and conveys compelling reasons why this transaction is the best strategic alternative for shareholders by correcting misperceptions in the marketplace.
"The current [Sprint] offer falls within an appropriate valuation range as determined by evaluating independent analyst price targets, relative share price premia, and precedent transactions for similar spectrum."
"Because the sales process appears to have been both extensive and well-known in the industry; CLWR's business is increasingly unviable on a stand-alone basis; the company requires interim financing from Sprint to fund operations and satisfy interest payments...a vote FOR the transaction is warranted."ISS has endorsed the process of the strategic and financial review conducted by the Special Committee and the board of directors, and agrees with the recommendation that the Sprint transaction is in the best interests of Clearwire's non-Sprint stockholders. Clearwire's standalone prospects are risky and highly uncertain; we urge you to maximize the value of your investment in Clearwire and follow ISS's recommendation by voting for the Sprint transaction.