Frontier stockholders approve acquisition by Verizon

Frontier Communications Parent (FYBR) announced that its stockholders approved the acquisition by Verizon Communications (VZ) at its special meeting held on November 13, 2024. Approximately 63% of stockholders voted “For” the merger agreement proposal, with ten of the company’s top 12 stockholders voting to approve the transaction. On September 5, 2024, Frontier and Verizon announced they had entered into a merger agreement, pursuant to which Verizon would acquire Frontier in an all-cash transaction. Frontier stockholders will receive $38.50 per share in cash, representing a premium of 37% to Frontier’s unaffected share price on September 3, 2024. The transaction is expected to close by the first quarter of 2026, subject to receipt of certain regulatory approvals and other customary closing conditions.