Verizon to Acquire Frontier for $20 Billion

Verizon Communications has agreed to acquire Frontier Communications for $20 billion in cash, a strategic move aimed at enhancing its fiber internet network and returning to growth. This acquisition will add 2.2 million fiber customers to Verizon's existing 7.4 million Fios connections, significantly expanding its footprint across 31 states. The deal, which offers Frontier shareholders $38.50 per share, represents a 44% premium over the stock's recent average price. While Frontier's shares surged following the announcement, Verizon's shares saw a slight decline. Verizon CEO Hans Vestberg emphasized that the acquisition aligns with the company's goal of offering premium broadband and mobile services. The transaction is subject to regulatory approvals and is expected to close in about 18 months.