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Sprint Raises Bid for Clearwire, Topping Dish’s Offer by 14%

Sprint Nextel Corp., seeking to end a bidding war with Dish Network Corp., raised its offer for Clearwire Corp. to $5 a share, 14 percent more than Dish’s latest price, and lined up investor support for the deal.

The proposal, which would let Sprint acquire the approximately 50 percent of Clearwire it doesn’t already own, values the business at about $14 billion, according to a statement yesterday. Clearwire’s board has endorsed the new terms, withdrawing its support for Dish’s $4.40-a-share offer.