Verizon to Buy Frontier for $9.6 Billion in Broadband Push.

Verizon Communications Inc. has agreed to acquire Frontier Communications Parent Inc. for $9.6 billion in an effort to expand its high-speed internet business. Frontier's investors will receive $38.50 per share, a 37% premium to the closing price before news of the deal broke. The acquisition will allow Verizon to add Frontier's fiber network to its existing portfolio, increasing its customer base and making it more competitive in the US market. The deal is expected to close in about 18 months, pending approval from shareholders and regulators. [Extracted from the article]