CLWR Clearwire Corp. - Class A (MM)

Dish Network Corp. (DISH) said it has withdrawn its offer for Clearwire Corp. (CLWR), after a rival bid from Sprint Nextel Corp. (S) won support from Clearwire shareholders.

Dish's bid of $4.40 a share was trumped by Sprint's offer last week to buy the stake of Clearwire it doesn't already own for $5 a share.

Sprint's higher bid won the backing of Clearwire's board and a group of investors including some hedge funds that had complained vocally that an earlier Sprint was too low.

Sprint shareholders on Tuesday approved selling control of itself to Japan's SoftBank Corp. (9984.TO) in a roughly $21.6 billion deal.

Write to Kristin Jones at kristin.jones@dowjones.com

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