Clearwire sent a letter to shareholders detailing why they should accept Sprint Nextel's offer, asserting that it represents "fair, attractive and certain value." The letter comes on the heels of a move by a group of disaffected Clearwire investors -- led by Mount Kellett Capital Management -- that is pressing Sprint Nextel to improve its offer for the wireless service provider. Another dissenting shareholder, Crest Financial, has retained noted law firm Quinn Emanuel to press its lawsuit to stop the deal.

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