Verizon's bid challenges AT&T's offer for Straight Path

Reuters

Reuters

While AT&T could have simply bought or leased Straight Path's spectrum directly from them, buying up the company themselves not only gives them access to their assets and spectrum holdings, but could be helpful in building their spectrum portfolio in the future. But on April 17th, regulatory filings revealed that an unnamed third party was considering a competitive bid, bringing the company's stock up another 17 percent. The analysts, on average, are forecasting a $44.4 price target, but the stock is already up 25.97% from its recent lows. The current price change puts the market capitalization at $1.68 bln.

If Straight Path accepts the second offer, it would be required to pay a $38 million termination fee to AT&T, but the company said the new bidder has agreed to pay the termination fee on Straight Path's behalf. After that Straight Path will decide which offer to accept. In order to determine directional movement, the 50-day and 200-day moving averages for Cornerstone OnDemand, Inc. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lloyd I. Miller III sold 30,190 shares of the stock in a transaction that occurred on Monday, January 30th.

TG Therapeutics, Inc. (NASDAQ:TGTX) ended its day at $12.00 with the rising stream of 15.38% and its total traded volume was 3.74 million shares more than the average volume.

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TRADEMARK VIOLATION WARNING: This report was first reported by Chaffey Breeze and is owned by of Chaffey Breeze.

Another bidder has stepped in with an offer for Henrico County-based Straight Path Communications Inc., topping a $1.6 billion buyout deal the company reached with telecommunications giant AT&T Inc. earlier this month. If you are reading this article on another domain, it was stolen and reposted in violation of United States and worldwide trademark & copyright laws.

The settlement stemmed from an FCC Enforcement Bureau investigation that began with an anonymous source publishing allegations that Straight Path falsified build out claims in obtaining renewal of its 39 GHz spectrum licenses.

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