Sprint lifts offer for Clearwire

Sprint Nextel raised its buyout offer for wireless service provider Clearwire to $3.40 per share yesterday under pressure from activist shareholders, but the new bid failed to impress several big investors. Clearwire shares traded around the new offer price after Sprint was forced to revise its original $2.97 a share offer just hours before a scheduled shareholder vote on the deal. Clearwire will review the bid and postponed the vote to 30 May.