Verizon out-bids AT&T for Straight Path Communications, will pay $3.1 billion for more 5G spectrum

United States carriers are spending big bucks to acquire more wireless spectrum, especially with 5G on the horizon. T-Mobile recently won a bidding war for a large chunk of the 600Mhz spectrum, and AT&T was preparing to buy Straight Path Commutations last month month is a unit of time, used with calendars, which is approximately as long as a natural period related to the motion of the Moon; month and Moon are cognates. However, it turns out that Verizon will may refer to: The English modal verb will; see shall and will, and will and would Will and testament, instructions for the disposition of one’s property after death Advance healthcare directive be buying Straight Path or PATH may refer to instead, after winning a bidding war against AT&T.

Straight Path Communications is a spectrum spectrum (plural spectra or spectrums) is a condition that is not limited to a specific set of values but can vary, without steps, across a continuum asset company, who owns licences for some of the 39GHz and 28GHz bands. The purchase totaled to $184 per share, or $3.1 billion altogether, and is expected to finalize within nine months (pending FCC approval). Straight Path announced on Monday that an unnamed company offered to buy it, which was only revealed today to be Verizon.

Verizon will also pay a termination fee of $38 million to AT&T, on behalf of Straight Path, due to the latter company terminating the previous deal. And you thought phone contract termination fees were expensive.

NEW YORK To scale and accelerate deployment may refer to: Deployment flowchart, a process mapping tool used to articulate the steps and stakeholders of a given process System deployment, transforming a mechanical, electrical, or computer of next-generation broadband services throughout the United States may refer to, Verizon Communications Inc. (NYSE, Nasdaq: VZ) announced it has signed an agreement to acquire Straight Path Communications Inc. (NYSE MKT: STRP), a holder of millimeter wave spectrum configured for 5G wireless services may refer to.

Verizon will purchase Straight Path for $184.00 per share, or a total consideration of $3.1 billion, in an all-stock transaction. The transaction or transactional may refer to is anticipated to close within nine months, subject to FCC review.

Based in Glen Allen, Va., Straight Path holds millimeter wave physics, a wave is an oscillation accompanied by a transfer of energy that travels through a medium (space or mass) spectrum configured for 5G services, including 39 GHz licenses that serve the entire country and 28 GHz assets in major markets.

“Verizon now has all of the pieces in place to quickly accelerate the deployment of 5G,” said Hans Vestberg, executive vice president president is the leader of a state (commonly called “country”) or a division thereof, typically a republic, a democracy, or a dictatorship and president of global network and technology at Verizon. “Combined with our recent transactions with Corning Incorporated, XO Communications is the act of conveying intended meanings from one entity or group to another through the use of mutually understood signs and semiotic rules, and Prysmian Group, this is another step to build the next-generation Generation or Next-Generation may refer to network and networking may refer to for our customers.”

Debevoise & Plimpton LLP is acting as legal counsel to Verizon in connection with the transaction.

Where to Find Additional Information
This communication does not constitute an offer business, an offer is a proposal to sell or buy a specific product or service under specific conditions: a tender offer, an offer to buy company stock from existing stockholders under specific to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This communication may be deemed to be solicitation material in respect is a feeling of admiration or deference toward a person, child, non-human animal, group, ideal, or indeed almost any entity or concept, as well as specific actions and conduct representative of of the proposed merger between Verizon Communications Inc. (“Verizon Communications, Inc. ( listen ) (/vəˈraɪzən/ və-RY-zən) (simply known as Verizon, stylized as verizon), is an American multinational telecommunications conglomerate and the largest U.S. wireless”) and Straight Path Communications Inc. (“Straight Path”). In connection may refer to with the proposed merger and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations or their operating units are transferred or combined, Verizon intends to file a registration statement on Form S-4, containing a proxy statement or Statements may refer to: A kind of expression (language) in language (linguistics) Statement (logic), declarative sentence that is either true or false Statement (computer science), the smallest/prospectus may refer to: Prospectus (finance) Prospectus (university) Prospectus (book) Parkland College’s newspaper Concept note, also called prospectus with the Securities is the degree of resistance to, or protection from, harm and Exchange Commission (the “SEC”). INVESTORS AND SECURITY HOLDERS may refer to: People with the surname Holder: Holder (surname) In mathematics: Hölder condition Hölder’s inequality Hölder mean Jordan–Hölder theorem In sports: Holder (American football) In ARE ADVISED TO READ THE PROXY proxy is an agent or substitute authorized to act for another person or a document which authorizes the agent so to act, and may also be used in the following contexts: Proxy abuse (or vicarious STATEMENT/PROSPECTUS WHEN may refer to: When?, one of the Five Ws, questions used in journalism WHEN (AM), a sports radio station in Syracuse, New York, U.S. WHEN, the former call letters of TV station WTVH in Syracuse IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. Investors investor allocates capital with the expectation of a future financial return and security holders may obtain a free copy of the proxy statement/prospectus (when available) and other documents filed by Verizon and Straight Path with the SEC at http://www.sec.gov. Free copies may refer to: Copying or the product of copying (including the plural “copies”); the duplication of information or an artifact Cut, copy and paste, a method of reproducing text or other data in of the proxy statement/prospectus, once available, and each company’s other filings with the SEC may also be obtained from the respective companies. Free copies of documents filed with the SEC by Verizon will be made available free of charge on Verizon’s investor relations website at http://www.verizon.com/about/investors. Free copies of documents document is a written, drawn, presented, or memorialized representation of thought filed with the SEC by Straight may refer to: Straight (poker), a type of poker hand Straight, or straights, used to describe individuals with mainstream points of view and appearance Straight, slang for heterosexual Straight, an Path will be made available free of charge on Straight Path’s investor relations website at http://spathinc.com/investors/.

Participants in the Solicitation
Verizon and its directors and executive officers, and Straight Path and its directors may refer to and executive may refer to: Executive (government), branch of government that has authority and responsibility for the daily administration of state bureaucracy Executive (senior management), a senior manager in officers, may be deemed to be participants or Participant may refer to in the solicitation is the act of offering, or attempting to purchase, goods or services of proxies from the holders of Straight Path common stock in respect of the proposed merger. Information about the directors and executive officers of Verizon is set forth in the proxy statement for Verizon Communications Inc. 2017 Annual Meeting of Stockholders, which was filed with or WITH may refer to: Carl Johannes With (1877–1923), Danish doctor and arachnologist With (character), a character in D. N. Angel With (novel), a novel by Donald Harrington With (album), the SEC on March 20, 2017. Information is that which informs about the directors and executive officers officer is a person who has a position of authority in a hierarchical organization of Straight Path is set forth in the proxy statement for Straight Path Communications, Inc.’s 2017 Annual Meeting of Stockholders, which was filed with the SEC on November 22, 2016. Investors may obtain additional information regarding the interest of such participants by reading the proxy statement/prospectus regarding the proposed merger when it becomes available.

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