Sprint boosts buyout offer for Clearwire

Tuesday, May 21st, 2013 | Finance News

OVERLAND PARK, Kan. (AP) — Sprint says it has raised its buyout offer for the stake in Clearwire it does not already own by 14 percent.

Sprint Nextel Corp. said Tuesday that it is offering $3.40 per share for Clearwire Corp. Its previous offer, from December, was for $2.97 per share for the wireless data operator.

Sprint says this is its best and final offer. A vote on the previous offer had been scheduled for Tuesday.

A representative for Clearwire could not immediately be reached for comment Tuesday morning.

Sprint is Clearwire's only major wholesale customer, and uses its network to provide "Sprint 4G" service.