Verizon to Acquire Frontier Communications in $20 Billion All-Cash Deal
September 5, 2024
Verizon Communications has entered into a definitive agreement to acquire Frontier Communications Parent, Inc. in an all-cash transaction valued at approximately $20 billion ($38.50 per share). The deal is intended to expand Verizon’s fiber footprint and integrate Frontier’s fiber network into Verizon’s Fios platform, with an expected closing in about 18 months subject to approvals.
- Buyers
- Verizon Communications Inc.
- Targets
- Frontier Communications Parent, Inc.
- Industry
- Telecommunications
- Location
- Texas, United States
- Transaction Type
- Buyout
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