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Verizon (VZ) has provided an update.
Verizon Communications Inc. has announced a definitive agreement to acquire Frontier Communications Parent, Inc. for $20 billion, marking a significant expansion of Verizon’s fiber footprint across the United States. This strategic move is set to boost Verizon’s delivery of premium broadband and mobility services to a broader customer base. Frontier shareholders will receive $38.50 per share in cash, with the transaction expected to be accretive to Verizon’s revenue and Adjusted EBITDA growth rates upon closing. The deal, subject to approvals, is anticipated to close in about 18 months and is expected to generate at least $500 million in annual cost synergies.
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