Reuters logo
Straight Path receives "superior" offer to AT&T's buyout bid
April 25, 2017 / 11:11 AM / 8 months ago

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

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below