Frontier Communications not providing outlook due to pending Verizon deal

As previously announced, on September 4, 2024, Verizon Communications Inc. (VZ) and Frontier Communications Parent, Inc. (FYBR) entered into a definitive agreement for Verizon to acquire Frontier. In connection with the proposed transaction, Frontier filed a definitive proxy statement with the U.S. Securities and Exchange Commission and will hold a related special meeting of stockholders on November 13, 2024. Frontier’s Board of Directors continues to believe the transaction with Verizon at $38.50 per share is the best outcome for stockholders and strongly recommends stockholders vote “FOR” the transaction on November 13. The transaction is expected to close by the first quarter of 2026, subject to receipt of requisite approval from Frontier’s stockholders and certain required regulatory approvals, and the satisfaction or waiver of the other conditions to the transaction described in the merger agreement. Due to the pending transaction, Frontier will not host a conference call to review the third quarter or provide a financial outlook.