Clearwire’s board has approved Sprint Nextel’s new takeover bid of $3.40 a share, or about $2.5 billion, saying it’s the best offer available to the struggling wireless-service provider.

The increased price, which Sprint boosted from $2.97 a share yesterday, tops a $3.30 bid from Dish Network. After the terms were changed, Clearwire rescheduled yesterday’s meeting for investors to vote on the deal until May 31st. The new offer values all of Clearwire, including debt and Sprint’s current equity in the business, at $10.7 billion.

“The revised offer, when compared with other potential transactions reasonably available to the company at this time, is the most favourable potential transaction to the company’s unaffiliated stockholders,” Clearwire said in a statement. sals. – (Bloomberg)