U.S. Markets closed

Clearwire tries to force bid

Next week, minority shareholders in wireless phone company Clearwire (CLWR) are expected to vote down a Sprint Nextel (S)buyout offer to force the No. 3 U.S. wireless carrier to raise its bid, Reuters said. Sprint owns more than 50% of Clearwire and has bid $2.97 a share, $2.2 bil, for the rest of the firm. The deal needs more than 50% shareholder approval at a special meeting set for May 21. Investors who control about 31% of public shares have said they will likely reject the offer. Clearwire shares fell 0.9% to 3.20. Sprint rose 0.6% to 7.32.