The deal comes after Verizon almost doubled a previous AT&T offer. Straight Path has licensed high-frequency radio waves that many think are the future of mobile networks. Shares in the 9 man company jumped from $35 in March to over $220 yesterday at market close.
May 11, 2017
‘Verizon Communications Inc. will buy Straight Path Communications Inc. for about $3.1 billion, after beating rival AT&T Inc. in an unusually intense bidding war for the wireless-spectrum holder.’