Reported about 1 month ago
Verizon Communications Inc. has announced its acquisition of Frontier Communications Parent Inc. for approximately $9.59 billion as part of its strategy to enhance its high-speed internet services. Frontier's investors will receive $38.50 per share, representing a 37% premium over its closing price prior to the deal's announcement. This merger will integrate Frontier’s fiber network into Verizon's existing portfolio, significantly bolstering its fiber and wireless assets and positioning Verizon ahead of its competitor AT&T in terms of consumer fiber subscribers.
Source: YAHOO