Verizon: takes over Straight Path Communications.
(CercleFinance.com) - Also wooed by AT&T, Straight Path Communications has finally fallen into the hands of Verizon, another telecom heavyweight in the US.
The operator has paid 184 dollars per share, representing an enterprise value of around 3.1 billion dollars, as part of an all-equity acquisition.
This is a lot more than what AT&T had previously offered (95.6 dollars per share), or 1.25 billion dollars, and which decided to abandon its interest after being greatly outbid by its competitor.
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