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BRIEF-Straight Path gets higher offer from unnamed bidder
May 8, 2017 / 11:12 AM / 7 months ago

BRIEF-Straight Path gets higher offer from unnamed bidder

May 8 (Reuters) - Straight Path Communications Inc

* Straight Path board determines that a revised offer from a multi-national telecommunications company to acquire Straight Path for $184.00 per share constitutes a “superior proposal”

* Straight Path Communications Inc - revised offer reflects an enterprise value of approximately $3.1 billion

* Straight Path Communications Inc - straight path has notified at&t of straight path board’s determination and, pursuant to at&t merger agreement

* Straight Path - pursuant to at&t merger agreement, at&t has option for next 3 business days to negotiate possible amendment of that agreement to match or exceed bidder’s offer

* Straight Path Communications - under at&t deal,co required to pay $38 million termination fee to at&t if board terminates at&t deal to enter deal with bidder Source text for Eikon: Further company coverage:

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