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Straight Path completes merger with Verizon

Straight Path Communications Inc. completed its merger with Verizon Communications Inc., the companies said Feb. 28.

Straight Path will become a direct, wholly owned subsidiary of Verizon, and as a result, its shares will be delisted from the NYSE American. Trading of Straight Path shares was suspended before the open of business Feb. 28.

Verizon in May 2017 agreed to buy Straight Path for $184 per share, reflecting an enterprise value of about $3.1 billion.