M&A · Tech · Telephone Communications (No Radiotelephone)
Verizon Communications Inc to acquire Frontier Communications Parent, Inc.
Announced Sep 5, 2024 · Closed Jan 20, 2026
Deal value$20.00BEV $20.00B
Premium37.0%To unaffected price
EV / Adj. EBITDA9.4x3.4x EV / Revenue
ConsiderationAll cash$38.50 per share
Transaction
- Acquirer
- Verizon Communications Inc (VZ)
- Target
- Frontier Communications Parent, Inc. (FYBR)
- Buyer type
- Strategic
- Offer price per share
- $38.50
- Enterprise value
- $20.00B
- Status
- Closed Jan 20, 2026
Deal protections
- Break fee (target pays)
- $320M · 1.6%
- Reverse fee (buyer pays)
- $590M · 2.9%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Centerview, Morgan Stanley
- To the target
- PJT Partners, Barclays
Sector context · Tech
- Comparable deals
- 57 in the prior 24 months
- Premium
- 37.0% vs. 46.0% sector median
- EV / Adj. EBITDA
- 9.4x vs. 16.3x sector median
- Break fee
- 1.6% vs. 3.0% sector median
Timeline
- AnnouncedSep 5, 2024
- Proxy filedSep 27, 2024
- Definitive proxyOct 7, 2024
- Shareholder voteNov 13, 2024
- ClosedJan 20, 2026