Verizon said on Thursday it will buy fiber-optic internet provider Frontier Communications in an all-cash deal worth $20 billion, as the U.S. wireless carrier looks to grow its subscriber base.

Frontier Communications shareholders have approved a $9.6 billion sale to Verizon , the company said on Wednesday, even as a number of large investors sought to get a higher price.

Despite potential synergies, I believe the market's prevailing bullish rating overestimated the upside impacts of the deal. Furthermore, the acquisition price represents a 44% premium.

According to Verizon’s press release, its acquisition of Frontier is an all-cash deal that’s worth $20 billion. Under the agreement, Verizon will acquire Frontier for $38.50 per share.

The reason a $20 billion deal is being announced on a $7 billion market cap company is because Frontier has more than $11 billion in debt. This debt will likely be paid off at closing as part of ...

Frontier Communications Parent Inc.'s stock fell 9% after Verizon Communications Inc. confirmed its plan to acquire the company in a $20 billion all-cash deal. But Fro ...

Verizon is buying Frontier in $20B deal to strengthen its fiber network Published: Sep. 05, 2024, 10:50 a.m. A Verizon retail location is shown in Willow Grove, Pennsylvania, Thursday, Feb. 22, 2024.

Verizon is buying Frontier Communications in a $20 billion deal to strengthen its fiber network. Skip to content. Fox 8 Cleveland WJW. ... fell 9% before the market opened on Thursday.

Shares of Frontier Communications soared 38% after the Journal reported Verizon is in advanced talks to acquire the Dallas-based fiber provider. Verizon shares edged 3.4% lower. Read more: ...