Jan 16 Clearwire Corp shareholder Mount
Kellett complained that Sprint Nextel Corp's offer to buy
out the company was "grossly inadequate" and said Clearwire's
special committee had breached its fiduciary duties in accepting
Mount Kellett, a holder of roughly 7.3 percent of Clearwire
shares, said in an open letter to Clearwire on Wednesday that
Sprint's Dec. 17 bid to buy Clearwire for $2.2 billion or $2.97
per share would likely be voted down.
It urged Clearwire's special committee to negotiate for
improvements in an offer Dish Network Corp announced on
Jan. 9 to buy Clearwire for $2.3 billion, or $3.30 per share,
and said the Dish offer "provided further evidence" that the
committee had failed in its duty to shareholders.