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Straight Path Stock Spikes on Verizon Bid Report - Broadcasting & Cable

Straight Path Stock Spikes on Verizon Bid Report

AT&T has inked deal valued at $1.6B to acquire holder of spectrum with 5G potential
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Verizon is thinking about swooping and making a counter bid for Straight Path Communications, a holder of 39 GHz and 28 GHz millimeter wave spectrum that could come in handy for 5G deployments, Reuters reported April 13.

Shares in Straight Path were up $19.72 (21.5%), to $111.42 each, Monday.

Last week, AT&T announced an all-stock deal for Straight Path that carries a total value of $1.6 billion, or $95.63 per share. Straight Path shareholders are to receive $1.25 billion, paid using AT&T stock.

For the full story go to Multichannel.com.

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