Sprint Nextel has increased its offer to acquire the approximately 50% of Clearwire that it does not already own, from USD2.97 per share to USD3.40, effectively succumbing to the demands of vocal minority Clearwire shareholders and blocking DISH Network’s unsolicited USD3.30 per share offer for Clearwire. The targeted company has indicated that the special committee of its board will review Sprint’s new offer, with shareholders set to convene on 30 May to discuss the issue, a week later than scheduled.
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