Unnamed operator outbids AT&T for Straight Path

(Telecompaper) An unnamed telecom operator has outbid AT&T for Straight Path Communications. The new bidder is offering USD 104.64 per share, giving Straight Path a value of USD 1.8 billion, better than AT&T's offer of USD 1.6 billion. Straight Path said in a statement that it was obliged to consider the unsolicited offer as 'superior'. Both offers would be paid all in stock. Straight Path said it notified AT&T, and the latter now has five business days to match or beat the new offer