Benzinga's M&A Chatter for Tuesday December 17, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday December 17, 2013.
Frontier Communications to Acquire AT&T's Wireline Residential, Business Services in Connecticut for $2B
Frontier Communications (NYSE: FTR) announced Tuesday that it has agreed to acquire AT&T's (NYSE: T) wireline business and statewide fiber network that provides services to residential, commercial and wholesale customers in Connecticut, and also AT&T's U-verse video and satellite TV customers in Connecticut for $2 billion in cash.
The deal is expected to close in H2 2014.
Frontier Communications closed Tuesday at $4.78, a gain of 8.5%. AT&T closed at $33.85, a loss of $0.30.
Yahoo Acquires PeerCDN
Yahoo closed Tuesday at $39.51, a loss of $0.22.
Report Centerbridge Won't Proceed With Deal to Buy LightSquared
Dow Jones reported Tuesday that Centerbridge won't proceed with a deal to acquire LightSquared, according to sources. A deal would have been valued at about $3.3 billion.
Shares of Dish Network surged higher on the report. Dish had bid $2.2 billion for LightSquared, earlier this year.
Dish Network closed Tuesday at $54.99, a gain of 2.5%.
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