Verizon (VZ) is in advanced talks to acquire Frontier Communications (FYBR) and an announcement could come this week, Lauren Thomas and Jessica Toonkel of Wall Street Journal report, citing people familiar with the matter. Shares of Frontier jumped 8% to $30.39 before being halted for volatility following the report while Verizon is down 68c to $42.25 in afternoon trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FYBR:
- Frontier Communications trading halted, volatility trading pause
- Verizon in advanced talks to acquire Frontier Communications, WSJ reports
- Frontier halted for volatility after jumping 8% to $30.39
- Frontier gets $23M in grants for high-speed fiber for underserved in California
- Frontier Communications price target raised to $37 from $35 at Benchmark