Verizon Acquires Frontier for $20 Billion in Cash

Verizon Communications Inc. (VZ) entered a merger agreement on September 5, 2024, to acquire Frontier Communications (FYBR) in an all-cash deal worth $20 billion.

Terms of the Merger:

As per the agreement, Verizon will acquire Frontier for $38.50 per share in cash, representing a discount of 0.47% from the stock’s last close, as reports of the potential merger were made public a day earlier. The price represents about a 35% premium from the stock’s last 30-day average.

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