Frontier Stock Tumbles as Verizon Announces $20B All-Cash Acquisition

KEY TAKEAWAYS Shares of Frontier Communications are tumbling 10% in premarket trading after Verizon Communications said it plans to buy the fiber network company. The transaction is valued at about $20 billion of enterprise value. Verizon is offering Frontier shareholders$38.50 a share in cash, a 44% premium to Frontier's 90-day volume-weighted average share price on Tuesday, the day before The Wall Street Journal reported that a deal was close. Shares of Frontier Communications (FYBR) are tumbling 10% in ...