Dish Network has decided to withdraw from their bid for Clearwire. Dish Network offered $4.40 per share in their last bid for Clearwire, but Sprint outbid them at $5 per share. Sprint is currently in talks with SoftBank for an acquisition. Dish made an offer of their own for Sprint, but that deal fell through.
“DISH Network Corporation (NASDAQ: DISH) today announced that its wholly-owned subsidiary, DISH Acquisition Holding Corporation, is withdrawing its tender offer to acquire all of the outstanding shares of Class A Common Stock of Clearwire Corporation (?Clearwire?), including any shares of Class A Common Stock issued in respect of outstanding shares of Class B Common Stock, for $4.40 per share. DISH?s tender offer provided that it could be withdrawn, among other reasons, as a result of the recent change in recommendation by Clearwire,” said Dish Network in a statement.
It is unknown whether Dish will still plan on launching a wireless business of their own or if they will acquire a different company. There are rumors that Dish may make an offer for T-Mobile.