Paul, Weiss advised on $20 Billion Frontier Verizon deal.
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal adviser to the strategic review committee of the board of directors of Frontier.
Verizon is buying Frontier in an all-cash transaction valued at $20 billion. This strategic acquisition will significantly expand Verizon's fiber footprint across the nation and also expand Verizon's intelligent edge network for digital innovations like AI and IoT. The combination will integrate Frontier’s cutting-edge fiber network into Verizon's leading portfolio of fiber and wireless assets, including its best-in-class Fios offering.
Verizon Chairman and CEO Hans Vestberg said: "The acquisition of Frontier is a strategic fit. It will build on Verizon’s two decades of leadership at the forefront of fiber and is an opportunity to become more competitive in more markets throughout the United States, enhancing our ability to deliver premium offerings to millions more customers across a combined fiber network."
President and CEO of Frontier, Nick Jeffery added: "Less than four years ago, we set out an ambitious plan to Build Gigabit America, the digital infrastructure this country needs to thrive for generations to come. Today’s announcement is recognition of our progress building a best-in-class fiber network and delivering reliable, high-speed broadband to millions of customers across the country. It’s also a vote of confidence for the future of fiber. I am confident that this delivers a significant and certain cash premium to Frontier’s shareholders, while creating exciting new opportunities for our employees and expanding access to reliable connectivity for more Americans."
The Paul, Weiss team is led by corporate partner Jeffrey Marell and counsels Stan Richards and Frances Mi; executive compensation partner Jarrett Hoffman; antitrust partners Scott Sher and Christopher Wilson; litigation partners Geoffrey Chepiga and Andre Bouchard.
Paul, Weiss, Rifkind, Wharton & Garrison LLP is a premier firm of more than 1,000 lawyers with diverse backgrounds, personalities, ideas and interests, with 11 offices in locations around the world - United States, Canada, Europe and Asia. Paul, Weiss is highly recognized for its practices in M&A, private equity, litigation, white-collar & regulatory defense, and restructuring.
