Sprint Nextel Corp. (NYSE: S) has agreed to acquire the 48% stake of Clearwire Corp. (Nasdaq: CLWR) that it doesn’t already own, for $2.2 billion. The $2.97 per share deal represents an increase from the $2.90 per share that Sprint had originally offered last week, and a 128% premium over where Clearwire shares were trading before talk of a deal began spreading in early October.  www.clearwire.com

American International Group (NYSE: AIG) said that it will begin to sell off its entire 13.7% stake in Asian insurer A.I.A. Group, which currently is valued at around $6.7 billion. www.aig.com

Cisco Systems
 (NasdaQ: CSCO) has hired Barclays to find a buyer for home wireless router makerLinksys, according to Bloomberg. Cisco paid $500 million to acquire Linksys in 2003, but is expected to seek “much less” this time around. www.cisco.com

First Quantum Minerals Ltd. (TSX: FM) has offered to acquire Inmet Mining Corp. (TSX: IMN) for C$5.1 billion in cash and stock, or C$72 per Inmet share. www.first-quantum.com

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