Johnson Fistel examines the proposed merger of Frontier

SAN DIEGO, Dec. 17, 2024 (GLOBE NEWSWIRE) — Johnson Fistel, LLP has commenced an investigation into whether the board members of Frontier Communications Parent, Inc. (NASDAQ: FYBR ) have breached their fiduciary duties in connection with the proposed merger with Verizon Communications Inc. (NYSE: VZ).

On November 13, 2024, Frontier Communications stockholders approved the merger agreement with Verizon, with approximately 63% of stockholders voting in favor of the merger. However, ten of Frontier’s twelve largest shareholders voted against approving the merger, mainly complaining that the merger significantly undervalued Frontier. For example, Cooper Investors PTY Limited, which owns 800,000 shares, said the merger “significantly undervalues” Frontier and “does not adequately compensate shareholders for the expected synergies that would be created by the transaction,” and believes Frontier’s “standalone value is 24- 62% above the offer price.” Further, a New Street Research analyst stated in a report that Verizon “could comfortably pay at least $67 and still create value for its shareholders.” The New Street Research report also called for shareholders to reject the deal unless they receive a higher price.

You can click or copy and paste the following link to participate in this survey:
https://www.johnsonfistel.com/investigations/frontier-communications-parent-inc
If you are a Frontier shareholder and believe the proposed acquisition price is too low, or you are interested in learning more about the investigation, please contact Lead Analyst Jim Baker ([email protected]) at 619-814-4471. If you send an email, please include a phone number.

What if I have relevant non-public information? Individuals with non-public information about the company should consider assisting our investigation or taking advantage of the SEC Whistleblower Program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or [email protected].

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia and Colorado. The firm represents individual and institutional investors in equity derivative and securities class actions. For more information about the firm and its attorneys, please visit http://www.johnsonfistula.com.

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Contact:
Johnson Fistula, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101, USA
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
[email protected] or [email protected]