Frontier Communications stockholder Cooper Investors issues letter

Frontier Communications (FYBR) significant stockholder Cooper Investors, an Australia-based global investment manager, issued an open letter to the board of directors of Frontier in which it expressed its strong opposition to the acquisition of Frontier by Verizon (VZ) for $38.50 per share. In the letter, Cooper Investors expressed its belief that the standalone value of Frontier is as much as 62% higher than Verizon’s offer price and that the fair transaction value would be up to 94% higher. Cooper Investors stated its intention to vote against approval of the Proposed Transaction and encouraged its fellow stockholders to do the same at the company’s upcoming special meeting of stockholders scheduled to be held on November 13. (Letter to Frontier Board):(https://assets-oce.mkt.dynamics.com/af3e6cd2-3d4e-4fb2-bc6a-2ce71c0f07b2/digitalassets/docs/26b9523d-cb8a-ef11-8a6a-6045bde66c86?ts=638645759100000000)