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Will Verizon's acquisition of Frontier Communications receive regulatory approval by March 5, 2026?
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Official announcements from Verizon, Frontier Communications, or relevant regulatory bodies such as the FCC or SEC
Story
Verizon to Acquire Frontier Communications for $38.50 Per Share in $20 Billion Deal
Sep 5, 2024, 11:30 AM
Verizon Communications Inc. has agreed to acquire Frontier Communications in an all-cash deal valued at $20 billion. The acquisition will see Verizon purchase Frontier for $38.50 per share, representing a 35.1% premium. This deal aims to bolster Verizon's fiber network, expanding its reach to 25 million premises across 31 states and better positioning the company to compete with rivals such as AT&T. Frontier Communications, based in Dallas, has a market value of $7 billion and 2.2 million fiber subscribers. The transaction is expected to close in 18 months, pending regulatory approval. Verizon also stated that the acquisition will help in areas such as artificial intelligence and the Internet of Things.
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