Sprint raises its bid for Clearwire

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Posted: Friday, June 21, 2013 12:00 am

Sprint Nextel Corp., the third-largest U.S. wireless carrier, raised its bid for Clearwire Corp. to $5 a share, topping an offer from Dish Network Corp. by 14 percent, and lined up investor support for the deal.

The proposal, which would let Sprint acquire the 50 percent of Clearwire it doesn’t already own, values the business at about $14 billion, according to a statement Thursday. Clearwire’s board has endorsed the new terms, withdrawing its support for Dish’s $4.40-a-share offer.

“The $5-per-share transaction with Sprint represents the best path forward,” CEO Erik Prusch said.

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