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Frontier’s shareholders approve a Verizon takeover.
According to The Wall Street Journal, the $9.6 billion sale, expected to close in 2026, would see Verizon paying $38.50 a share and absorbing “about $10 billion” of Frontier’s debt. 63 percent of Frontier’s stockholders are for the all-cash transaction, while others are opposed, saying the offer is too low.
Frontier owns more than two million fiber connections across 25 states, including some in Texas, California, and Florida that it bought from Verizon in 2016.
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