Reported about 1 month ago
Verizon has announced a $20 billion acquisition of Frontier Communications to enhance its fiber network. The all-cash deal offers $38.50 per share, a 37.3% premium over Frontier's closing price before the acquisition news. This strategic move will combine Verizon's 7.4 million FiOS connections with Frontier's 2.2 million fiber subscribers across 25 states, allowing Verizon to better compete in the market. The acquisition is projected to close in about 18 months and generate significant annual cost savings.
Source: YAHOO