Law360, New York (October 27, 2009, 3:38 PM ET) -- Frontier Communications Corp. has won shareholder approval to acquire Verizon Communications Inc.'s local exchange businesses in 14 states, as well as certain related customer relationships, for $5.2 billion in stock and $3.3 billion in cash.
Frontier will issue shares to Verizon stockholders equal to $5.2 billion, and Verizon will receive $3.3 billion in the form of a special cash payment, a Frontier representative said.
The deal is not expected to close until the second quarter, and the exact amount of shares of Frontier stock that will...
Frontier Gets OK To Buy Verizon Businesses For $8.5B
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