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By Ben Munson

Sprint today announced that Clearwire has accepted Sprint’s raised bid of $5 per share to buy out Clearwire. The new deal values Clearwire at approximately $14 billion and represents a 47 percent premium over Sprint’s previous offer of $3.40 per share.

Clearwire’s board has accordingly adjusted its recommendation and is advising shareholders to vote against Dish’s competing tender offer of $4.40 per share.

In a statement, Sprint said it had already received commitments from Clearwire minority shareholders representing 9 percent of Clearwire’s voting shares. Sprint will, of course, vote its 45 percent in favor, as will Comcast, Intel and Bright House, which collectively own nearly 13 percent.

Sprint’s new offer comes with stipulations that kick in if the transaction is not completed including a $115 million termination fee charged to Clearwire, expedition of Clearwire’s annual shareholder meeting and waiving the current standstill provision in the Equityholders’ Agreement between Sprint, Clearwire, and the company’s strategic investors.

Read More Sprint, Clearwire Agree to New $5 Per Share Acquisition Deal.