The cost of the transaction will include $3.125 billion in cash and $3.125 billion in Verizon common stock, subject to customary adjustments, at closing.
The agreement also includes up to an additional $650 million in future cash consideration related to the achievement of certain performance measures and other commercial arrangements.
Franny and Tony were good at making the numbers great for the analysts on Wall Street.
As you said
Franny was horrible beyond belief and he left us with Tony the Tiger and LA
And we are the only fortune 10 company investing billions to count the beans
Also it ain’t that hard . Stop padding your salary and your your longevity and do what’s right
We could of saved a billion and been in exactly three same spot
Visible never took off and basically failed
So we had the buy the market
They will just move the trac phone customers to visible to justify all the Exec salaries at CEO, COO and CIO of visible
Another 🍋
We could have had Trac for like $600M vs $6.5B if little franny had the vision to see prepay was a real market. Franny was the worst in understanding the business direction past 6 months
But he did see the vision on one ERP , pushed it every year and we spent like a billion on that joke and guess what still have 3 ERPs
Simple brilliant
Like all companies purchased by Verizon, they will run it into the ground, rename it, reorganize it, and sell it off later for a loss.
What happens to Visible? Visible is an all-digital wireless carrier owned by Verizon.
This is good for Ronan, hopefully he ends up eventually taking over for Hans.
"This transaction is aligned with what we do best: providing reliable wireless service alongside a best-in-class customer experience," said Hans Vestberg, Chairman and CEO of Verizon. "We are excited about the opportunity to bring Tracfone and its brands into the Verizon family where we can put the full support of Verizon behind this business and provide exciting and compelling products into this attractive segment of the market. We are pursuing this important strategic acquisition from a position of strength given our very strong and prudent financial profile."