Date:	--/--/-- --:--:--
Event Id:	E55VT47GS
Action Type:	ACQUISITION
Action Status:	ANNOUNCED
Acquirer Symbol:
Target Symbol:	FYBR
Updated:	--/--/-- --:--:--
Purchase Price Per Share:	38.5
Price Per Share Currency:	USD
News References:	https://www.sec.gov/Archives/edgar/data/20520/000114036124042981/ny20035822x3_defm14a.htm

Action Notes

Verizon Communications Inc and Frontier Communications Parent, Inc today announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all-cash transaction valued at $20 billion. Under the terms of the agreement, Verizon will acquire Frontier for $38.50 per share in cash, representing a premium of 43.7% to Frontier's 90-Day volume-weighted average share price (VWAP) on September 3, 2024, the last trading day prior to media reports regarding a potential acquisition of Frontier. The transaction is valued at approximately $20 billion of enterprise value. The transaction has been unanimously approved by the Verizon and Frontier Boards of Directors. The transaction is expected to close in approximately 18 months, subject to approval by Frontier shareholders, receipt of certain regulatory approvals and other customary closing conditions. The Frontier special shareholder meeting to vote on the transaction will be held on 11/13.