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The company has agreed to acquire Frontier Communications, the country's largest pure-play fiber provider, for $20 billion to expand its fiber optics footprint. Post-acquisition close, Verizon ...
Some of Frontier Communications' largest shareholders are concerned about its planned $9.6 billion takeover by Verizon Communications, with its second-largest investor planning to vote against the ...
FILE - A Verizon retail location is shown in Willow Grove, Pa., Thursday, Feb. 22, 2024. Verizon is buying Frontier Communications in a $20 billion deal that helps bolster its fiber network.
The price tag for Frontier, based in Dallas, is sizeable given its 2.2 million fiber subscribers across 25 states. Verizon has approximately 7.4 million Fios connections in nine states and Washington, D.C. Frontier has 7.2 million fiber locations and has planst to build out an additional 2.8 million fiber locations by the end of 2026.
Frontier’s 2.2 million fiber subscribers across 25 states will join Verizon’s approximately 7.4 million Fios connections 1 in 9 states and Washington, D.C. In addition to Frontier’s 7.2 million fiber locations, the company is committed to its plan to build out an additional 2.8 million fiber locations by the end of 2026.
In particular, Verizon will acquire Frontier for $38.50 per share in cash, a 43.7% premium over Frontier’s 90-day volume-weighted average share price (VWAP) as of September 3, 2024.
In September, Verizon announced the impending acquisition of Frontier Communications Parent. Here's a look into how the Frontier purchase may affect whether to buy Verizon stock.
Frontier Communications owns local telephone operating companies consisting of companies it has owned under its previous name Citizens Communications Company, companies it acquired from Global Crossing, and companies it acquired from Verizon Communications which are grouped under its subsidiary Frontier Communications ILEC Holdings. The ...