September 10, 2024 | Telecom | North America | Active
On 5-Sep-24, Verizon agreed to acquire communications provider Frontier, for $38.50 per share in cash, in a move aimed at bolstering Verizon’s competitive position and expanding its fibre-optic network nationwide. The offer values Frontier’s enterprise at $20bn and represents a 37.3% premium over Frontier’s closing price from the previous day. The boards of both Verizon and Frontier have unanimously approved the transaction, expected to close within 18 months, pending approval from Frontier shareholders (50%) – though no Verizon vote is required – and regulatory clearances, including under HSR, from the Federal Communications Commission (FCC), “Team Telecom”, various state public ...
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