Frontier Communications Parent, Inc. (NASDAQ:FYBR) shares are trading lower after the company inked an acquisition deal with Verizon Communications Inc. (NYSE:VZ).
As per the terms, Verizon will acquire Frontier in an all-cash deal valued at $20 billion.
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.
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The acquisition will integrate Frontier’s advanced fiber network with Verizon’s extensive fiber and wireless assets, including Fios. Frontier’s 2.2 million fiber subscribers and 7.2 million fiber locations will join Verizon’s ...
