On Friday, Shares of Frontier Communications Corporation (NASDAQ:FTR), lost -0.70% to $4.97, despite the telecommunications company priced two public offerings which will assist pay for wireline acquisitions from Verizon (VZ).
Frontier Communications priced that public offering of $750 million of common stock at $5 a share. The company also priced the $1.750 billion of 11.125% Mandatory Convertible Preferred Stock, Series A at a public offering price of $100 a share.
The underwriters of the offerings have a 30-day option to purchase up to an additional 15 million shares of common stock and an addition 1.75 million shares of Mandatory Convertible Preferred Stock.
The offerings are predictable to close on June 10.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States.
Shares of Comcast Corporation (NASDAQ:CMCSA), declined -0.45% to $58.69, during its last trading session.
Cable giant Comcast Corporation, has agreed to acquire the TV ad-targeting firm Visible World, according to a person familiar with the matter, according to MarketWatch.
The deal, if accomplished, could put the cable giant into a stronger position in the data-driven TV advertising business, which is still in its infancy. MarketWatch Reports.
New York-based Visible World works with marketers to deliver ads to specific audiences and households based on zip codes, using data from cable set top boxes and other sources.
It also has a division that that allows marketers to use software to buy TV ads in an automated fashion as they do when they buy online ads. The company also has technology that allows advertisers to create custom versions of a TV ad that are targeted to viewers. MarketWatch added.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice services to residential and business customers under the XFINITY brand name.
At the end of Friday’s trade, Shares of Markit Ltd. (NASDAQ:MRKT), gained 0.99% to $26.51.
Markit, declared the pricing of its secondary public offering of 25,746,604 common shares at $25.75 per share. This represents a 1,160,581 share enhance over the formerly declared offering size. In connection with the offering, the selling shareholders have granted the underwriters a 30-day option to purchase up to 1,754,667 additional common shares. The company itself is not selling any shares and will not receive any proceeds from the offering. The offering is predictable to close on or about June 10 2015, subject to customary closing conditions.
BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., HSBC, J.P. Morgan, Morgan Stanley, RBC Capital Markets, UBS Investment Bank, BNP PARIBAS, Jefferies, RBS and TD Securities are acting as joint book-running managers for the offering.
Markit Ltd. provides financial information services worldwide. It operates through three divisions: Information, Processing, and Solutions. The Information division provides pricing and reference data, indices, and valuation and trading services across multiple asset classes and geographies through direct and third-party distribution channels.
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