Sprint Ups Clearwire Offer

Sprint Nextel Corp. (NYSE: S) increased its offer to purchase Clearwire Corp. (Nasdaq: CLWR) to $5 per share, topping Dish Network's $4.40 per share bid. Shares of Clearwire gained 35 cents to close at $5.05 while Sprint stock rose 7 cents to close at $7.07.

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