Wireless broadband provider's board recommends shareholders accept Dish's bid, which is $1 a share greater than a rival bid by majority owner Sprint Nextel.
Sprint officially acquires the remaining 50 percent of Clearwire a day after shareholders overwhelmingly vote to approve the deal.
Now that Dish Network is out of the picture, Clearwire shareholders have officially accepted Sprint's $5 a share offer to buy its remaining shares.
Dish says it's standing down, clearing a path for Sprint to acquire the small wireless company.
Sprint has increased its bid for Clearwire to $5 a share in the hopes of forcing satellite TV provider Dish Network to drop out of the race.
The satellite television provider says the lawsuit is an aim to divert attention from Sprint's failure to offer a fair deal to Clearwire shareholders.
After a months-long battle between Dish and SoftBank over Sprint, the satellite company abandons its $25.5 billion bid for the wireless carrier to focus on "completing the Clearwire tender offer."
The wireless carrier's lawsuit claims the deal violates shareholder rights and Delaware laws.
Dish's proposal to acquire Clearwire is not "actionable" as certain aspects of it violate Delaware state law, claims Sprint.
After proxy advisory firm Glass Lewis reiterates that shareholders should vote "no" to an acquisition by Sprint, Clearwire pipes up.