Mergers and Acquisitions

Verizon has entered into a contract with America Movil to acquire Tracfone, a major wireless service provider. The transaction will cost $3.125 billion in cash and $3.125 billion in Verizon shares. The agreement also includes $650 million as a reward for achieving certain performance indicators of Tracfone. The deal will allow Verizon to increase its client base to 21 million subscribers by connecting Tracfone users to 4G LTE and 5G networks.