Satellite TV operator Dish Network has raised its bid for Clearwire Corp., valuing the wireless network operator at $6.9 billion, in an attempt to outbid Sprint Nextel Corp. two days before Clearwire shareholders are meeting to vote on a deal.
Dish's bid of $4.40 in cash per share is 29 percent higher than Sprint's bid of $3.40 per share. Sprint wants to buy the half of Clearwire that it doesn't already own.
Dish's previous offer, from January, was for $3.30 per share.
Dish Network Corp. chairman Charlie Ergen said in a statement that Clearwire's wireless spectrum—space on the airwaves—is key to Dish being able to deliver future services.
Dish has also offered to buy Sprint.
Clearwire shares are up 22 percent to $4.23 in after-hours trading.
Explore further: Dish Network makes $5.15B bid for Clearwire