Monday, December 17, 2012

Reuters: Technology News: Sprint sweetens bid for Clearwire to $2.2 billion

Posted by Isabella on 4:41 AM

Reuters: Technology News
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Sprint sweetens bid for Clearwire to $2.2 billion
Dec 17th 2012, 12:19

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People talk on their cell phones as passers-by walk past a Sprint store in New York, October 15, 2012. REUTERS/Keith Bedford

People talk on their cell phones as passers-by walk past a Sprint store in New York, October 15, 2012.

Credit: Reuters/Keith Bedford

Mon Dec 17, 2012 7:19am EST

(Reuters) - Sprint Nextel Corp raised its offer for Clearwire Corp by 7 cents per share to buy the rest of the wireless service provider for $2.2 billion.

Sprint, already the majority owner, will pay $2.97 per share for just under half of Clearwire.

Sprint, whose previous offer price was criticized by some minority shareholders as too low, said the raised offer had the unanimous approval of Clearwire directors.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Rodney Joyce)

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