April 25, 2017 / 11:11 AM / 3 months ago

Straight Path receives "superior" offer to AT&T's buyout bid

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April 25 (Reuters) - Straight Path Communications Inc said on Tuesday it received a $104.64 per-share all-stock buyout offer from a "multi-national telecommunications company", which it said was superior to AT&T Inc's offer of $95.63 per share.

Reuters had earlier reported that Verizon Communications Inc was considering topping AT&T's bid.

AT&T agreed to buy Straight Path, a holder of licenses to wireless spectrum, for $1.25 billion in an all-stock deal on April 10.

Straight Path said it has notified AT&T of the offer and the telecom company has five days to match or exceed the new offer. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Shounak Dasgupta)

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