secwatch.observer — SEC 8-K summary
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Issuer:     VERIZON COMMUNICATIONS INC (VZ)
CIK:        0000732712
Form:       8-K
Filed at:   2024-09-05T23:59:59+00:00
Accession:  0001193125-24-213664
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Verizon to acquire Frontier for $38.50/share cash in $20B deal, expands fiber network
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- All-cash acquisition valued at $20B enterprise value; $38.50 per share, 43.7% premium to Frontier's 90-day VWAP.
- Verizon gains Frontier's 2.2M fiber subscribers and expands to 25M premises across 31 states and D.C.
- Expects at least $500M in annual run-rate cost synergies by year three; accretive to revenue and EBITDA.
- Transaction unanimously approved by both boards; expected to close in approx 18 months, subject to approvals.
- Verizon reaffirms FY2024 guidance: wireless service revenue growth 2-3.5%, adj. EBITDA growth 1-3%, adj. EPS $4.50-4.70.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/732712/000119312524213664/0001193125-24-213664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/732712/000119312524213664/d828371d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-213664

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer