Verizon to buy Frontier in $20 bn deal to boost fiber network

Verizon has announced a $20 billion all-cash acquisition of Frontier Communications to expand its fiber network. The deal offers $38.50 per share, a 37.3% premium over Frontier's closing price on Sept. 3. The acquisition is expected to close in about 18 months and aims to enhance Verizon's competitive edge in broadband services.