Clearwire Corporation (CLWR) Execs and Directors to Cash In On Merger

Crest also filed a lawsuit (link opens PDF) against Clearwire, Clearwire’s board of directors, and Sprint, to stop the deal. It accused Sprint, which already had a controlling interest in Clearwire, of not allowing Clearwire to engage in a fair process of selling “either Clearwire or its assets for the benefit of all Clearwire stockholders.”  Instead, Sprint “launched a scheme to deliver unilateral control of Clearwire and its spectrum assets” to Sprint’s buyer SoftBank “on the cheap, while extracting maximum benefit for itself.”

But whether or not Clearwire’s stockholders manage to thwart the takeover, even DISH’s notoriously tenacious chairman, Charlie Ergen, admitted that his company taking control of Clearwire was not likely to happen. “The deck is stacked against us,” he told a group gathered at an AllThingsD conference last month.

That could mean some big payouts are coming up for Clearwire’s executives and directors, something they could not have envisioned a year ago when the company threatened to default on a $237 million interest payment on its $4 billion in debt.

But that was another Clearwire era.

The article Clearwire Execs and Directors to Cash In On Merger originally appeared on Fool.com.

Fool contributor Dan Radovsky has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

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