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BRIEF-Straight Path board says offer of $104.64/shr to buy co is “superior proposal”
2017年4月25日 / 中午11点31分 / 7 个月前

BRIEF-Straight Path board says offer of $104.64/shr to buy co is “superior proposal”

April 25 (Reuters) - Straight Path Communications Inc

* Straight Path board determines that an unsolicited offer from a multi-national telecommunications company to acquire Straight Path for $104.64 per share constitutes a “superior proposal”

* Straight Path Communications Inc - co has notified AT&T of Straight Path board’s determination

* Straight Path Communications - under AT&T agreement, co required to pay a $38 million termination fee to AT&T if board terminates AT&T merger agreement

* Straight Path Communications - AT&T has option for next five business days to negotiate a possible amendment of that agreement to match or exceed bidder’s offer

* Straight Path Communications - bidder has agreed to pay termination fee to AT&T on Straight Path’s behalf if Straight Path board terminates AT&T agreement Source text for Eikon: Further company coverage:

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