Sprint increases its Clearwire bid to $3.40 a share

Ahead of a scheduled shareholder vote, Sprint has outlined a new $3.40-per-share offer for Clearwire, up from its original offer of $2.97 per share for the shares of the company it does not already own. The move was expected after many Clearwire shareholders expressed concern that the initial offer was too low. "The offer represents Sprint's best and final offer," Sprint said. The Clearwire shareholder vote is now scheduled for May 30.

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