Verizon to Acquire Frontier Communications in $20 Billion Deal

The acquisition aims to expand Verizon's fiber network and strengthen its competitive position in the U.S. broadband market.

Verizon will pay $38.50 per share for Frontier, representing a 43.7% premium over its 90-day average share price.
The deal will add Frontier's 2.2 million fiber subscribers across 25 states to Verizon's 7.4 million Fios connections.
The combined entity will have a fiber network passing over 25 million premises in 31 states and Washington, D.C.
Verizon expects to achieve $500 million in annual cost synergies within three years of the acquisition.
The transaction is subject to approval from Frontier shareholders and regulatory bodies and is expected to close in about 18 months.