May 8 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
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