Verizon said on September 4, 2024 it entered into an Agreement and Plan of Merger with Frontier Communications Parent, Inc. The deal is an all-cash acquisition at $38.50 per share, and the company said the enterprise value is $20 billion.

1. 01

   Verizon said on September 4, 2024 it entered into an Agreement and Plan of Merger with Frontier Communications Parent, Inc. The deal is an all-cash acquisition at $38.50 per share, and the company said the enterprise value is $20 billion.

2. 02

   The company said the transaction is expected to close in about 18 months and requires a Frontier shareholder vote, customary closing conditions and regulatory approvals. The company expects its net unsecured debt to adjusted EBITDA ratio to rise modestly, to about 0.2 times to 0.3 times, at closing.

3. 03

   The company said it expects to realize at least $500 million in run rate operating expense (OpEx) synergies by year 3. It also said the deal is expected to be accretive to EPS beginning in 2027.

4. 04

   The company said Frontier spent about 4 years investing $4.1 billion in upgrading its network, and that more than 50% of its revenue now comes from fiber products. It also said that combined with Verizon, the companies have 25 million fiber passings across 31 states and Washington, DC.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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