Verizon said on Thursday it will buy Frontier Communications in a deal worth $20 billion the acquisition would see the US wireless carrier expand its fiber Network Beyond its core region in the American Northeast and Mid-Atlantic into the Midwest Texas and California Verizon CEO Hans vestberg called Frontier a strategic fit and an opportunity to become more competitive in more markets across the US Frontier has 2.2 million fiber subscribers across States if the deal goes ahead it will combine with Verizon's about 7.4 million bundled services in nine states and Washington DC and it could help Verizon better compete against rival AT&T and others in delivering premium Broadband services to existing customers and new ones too it is also seen as adding to Verizon's revenue and adjusted profit Verizon offered $38.50 cents per share in an all cash offer a premium of more than 37% above Frontier closing price on Tuesday Frontiers shares had surged nearly 38% in the previous session but fell below Verizon's offer price in pre-market trading Thursday Verizon climbed about 1% the acquisition is expected to close in about 18 months