The transaction is sourced from an 8-K filing with the SEC, filed via SEC EDGAR and published on September 5, 2024. The deal's current status is pending regulatory approval.
On the financial advisory side, PJT Partners served as financial advisor to the Strategic Review Committee of Frontier's Board of Directors, while Barclays served as financial advisor to Frontier directly, both without a specified lead designation, per a shared source sentence distinguishing the two Frontier-side mandates. On the acquirer side, Centerview Partners LLC and Morgan Stanley & Co. LLC acted as financial advisors to Verizon, also without a specified lead designation, per the same source sentence.
On the legal side, Cravath, Swaine & Moore LLP served as legal advisor to Frontier directly, while Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to the Strategic Review Committee of Frontier's Board, reflecting two distinct legal mandates on the target side. Debevoise & Plimpton LLP acted as legal counsel to Verizon, the acquirer.
Beyond the cash consideration implied by the cash acquisition subtype, with a disclosed deal value of $20,000,000,000, no further detail on per-share pricing or financing sources is provided in the facts block.
Several items are not disclosed in the available record. No lead designation is specified for any of the financial advisors named (PJT Partners, Barclays, Centerview Partners, or Morgan Stanley), and no expected closing date or further timeline detail beyond the September 2024 filing date and pending-regulatory status is given.