The parties to the Transaction have made customary representations and warranties, and covenants, including with respect to the conduct of the Education Business during the interim period between the executionof the Purchase Agreement and the Closing.
Although Clearwire worked with DISH prior to the executionof the Sprint Agreement to improve the overall terms of that proposal, the Special Committee of the Clearwire Board determined that the Sprint transaction was, for a number of reasons, a more-attractive alternative for Clearwire's non-Sprint Class A stockholders than a transaction with DISH at that time and on the terms then-proposed by DISH.
We are prepared to move forward immediately with formal due diligence and the negotiation and executionof a definitive merger agreement, and believe that with adequate access to the necessary information and people, we can complete both in approximately two weeks.