Clearwire board approves higher Sprint offer
Clearwire wants to accept a richer buyout offer made by Sprint this week and is recommending that shareholders vote in favor of it.
Sprint upped its bid by 14 percent to $2.5 billion Tuesday for the wireless data network operator.
Some shareholders have opposed the deal, including Crest Financial, which spurned the latest bid as well.
Clearwire said Wednesday that shareholders will be able to vote on May 31. Only shareholders of record as of April 2 are eligible.
Sprint, based in Overland Park, Kansas, is Clearwire's only major wholesale customer, and uses its network to provide "Sprint 4G" service.
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