Latest Business News: Investors Hit Hard as Apple Bonds Tank

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Latest Business News: Investors Hit Hard as Apple Bonds Tank

Latest Business News: Investors Hit Hard as Apple Bonds Tank
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Latest Business News: Investors Hit Hard as Apple Bonds Tank

by Wochit 1:01 mins

Investors in Apple's record U.S. $17 billion bond deal have suffered some of the biggest losses in recent investment-grade new issues, with about $760 million wiped off the value of longer-maturing Apple securities that they bought just weeks ago. Sprint has raised its bid for Clearwire once again, trumping an offer from rival Dish Networks.Sprint, which bid $3.40 per share for Clearwire back in May, raised that buyout offer to $5 Clearwire announced that its board of directors is recommending that shareholders vote in favor of Sprint's recently revised takeover bid. The deal would see Sprint pay Clearwire shareholders $5 per share for the remaining 50% of Clearwire stock that Sprint does not already own, and would value Clearwire at approximately $14 billion.

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