May 8, 2017 / 11:06 AM / 7 months ago

Straight Path gets higher offer from unnamed bidder

May 8 (Reuters) - Straight Path Communications Inc said on Monday it had received an offer from a telecommunications company to buy the holder of spectrum used in 5G technology in deal with an enterprise value of about $3.1 billion.

The offer of $184 per share represents a premium of 11.5 percent to Straight Path’s Friday closing price.

The bidder, whom Straight Path did not name, had previously made an offer to buy the company at $135.96 per share.

The offer from the unnamed bidder rivals AT&T Inc’s offer to buy Straight Path for $95.63 per share. (Reporting by Narottam Medhora in Bengaluru; Editing by Sai Sachin Ravikumar)

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