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General

Verizon wins bidding war, gets Straight Path for USD 3 bln

Thursday 11 May 2017 | 14:15 CET | News
Straight Path has accepted the USD 184 per share bid made by Verizon Communications earlier this month as an unnamed bidder, which values the company at USD 3.1 billion. The all-stock transaction is intended to qualify as a tax-free reorganisation. Verizon will pay the termination fee to AT&T of USD 38 million. The acquisition has been approved by the board of directors of both Straight Path and Verizon and should close within nine months, subject to FCC review.

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Categories: General
Companies: FCC / Verizon Communications
Countries: United States
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