Reported about 1 month ago
Frontier Communications has encouraged its shareholders to approve Verizon's $20 billion takeover proposal, emphasizing that after evaluating potential buyers, Verizon's bid presents the best value. The deal, offered at $38.50 per share, faces some skepticism from investors who believe it's insufficient. Despite this, Verizon's CEO asserts the offer is final and beneficial for all parties involved. If the merger collapses, both companies face significant termination fees.
Source: YAHOO