Straight Path +19% on revised offer from mystery suitor

|About: Straight Path Communicat... (STRP)|By:, SA News Editor

So it's not that much of a mystery - the "multi-national telecommunications company" is widely assumed to be Verizon (NYSE:VZ), and it's lifted its all-stock bid to $135.96 from $104.64.

Straight Path (NYSEMKT:STRP) is now considering this offer to be the "superior proposal" against its all-stock agreement with AT&T (NYSE:T) for $95.63 per share.

AT&T has three days to revise. Straight Path will have to pay a $38M termination fee to AT&T in order to accept the new offer (which reflects an enterprise value of $2.3B).

Shares +19.2% to $150 premarket

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