3. Verizon plans to buy Frontier, which brings with it a vast fiber network, for $38.50 per share, around a 45% increase on the pre-announcement share price, Verizon said. In the days leading up to the announcement, Frontier was trading at $29 a share ...

The transaction, which awaits regulatory approval, would extend Verizon’s fiber network to a size that would rival major competitors like AT&T and Comcast by adding back lines i

The deal has been approved despite a lot of noise from several Frontier investors in recent weeks that Verizon's bid undervalues the company. Several Frontier shareholders have expressed their opposition to the deal, including Glendon Capital Management, Cooper Investors Pty Limited, and Cerberus.

Over 60 percent of Frontier Communications stockholders have approved a merger agreement proposal with Verizon.

Frontier Communications shareholders have approved a $9.6 billion sale to Verizon, the company said on Wednesday, even as a number of large investors sought to get a higher price. Shareholders had until Wednesday to cast their votes on a deal that Verizon's CEO Hans Vestberg called a "strategic fit" that would allow the company to be more competitive in additional markets.