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Straight Path shareholders OK Verizon deal

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Straight Path shareholders OK Verizon deal

Straight Path Communications Inc. approved the company's proposed acquisition by Verizon Communications Inc.

About 99% of the vote cast at the special meeting of stockholders were in favor of the proposal, according to an Aug. 2 news release.

Verizon in May agreed to buy Straight Path for $184 per share, reflecting an enterprise value of about $3.1 billion, after beating rival AT&T Inc. in an intense bidding war for the wireless spectrum holder.