Boston, MA 05/31/2013 (wallstreetpr) – The share prices of Clearwire Corporation (NASDAQ:CLWR) had surged by 29.31 percent to close at $4.50 per share for the end of last trading session. The shares of the provider of fourth generation (4G) wireless broadband services had been trading in the range of $4.13 to $4.56 per share during the day before closing at $1.02 higher than the previous closing price. This surge in share prices of Clearwire Corporation (NASDAQ:CLWR) had led the company to jump to new level of 52 week high price at $4.56 per share, while the 52 week low price level remains at $0.83 per share.
The company is nearing its shareholders meeting to vote on the Sprint Nextel corporation’s offer to take over the Clearwire Corporation (NASDAQ:CLWR) at the recently increased rate of $3.40 per share, which was approved by the board of directors to be a strategic alternative for the shareholders of the company. Sprint Nextel Corporation had been eyeing to acquire the company with an initial offer of $2.90 which was further increased to $2.97 per share and then to recent $3.40 per share after the group of shareholders expressing their dissatisfaction over the offer.
Clearwire Corporation (NASDAQ:CLWR) is involved in building and operating next generation mobile broadband networks to provide high speed mobile Internet and residential Internet access throughout the country. The company presently holds 699.17 million shares with an institutional ownership of 60 percent of the holdings. The average trading volume for Clearwire Corporation (NASDAQ:CLWR) is at 14.66 million shares per day which had surged to 97.86 million shares for the last trading session.