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AT&T to buy Straight Path Communications for $1.25 billion

FILE PHOTO -- An AT&T sign is seen outside a branch in Rolling Meadows, Illinois, U.S., October 24, 2016.

U.S. wireless carrier AT&T Inc (T.N) said on Monday it would buy Straight Path Communications Inc (STRP.A), a holder of licenses to wireless spectrum, for $1.25 billion in an all-stock deal.

The No.2 U.S. carrier said it would offer $95.63 per share, a premium of 162.1 percent to Straight Path's Friday close.

Straight Path's shares were...