DALLAS — November 13, 2024 — (BUSINESS WIRE) — Frontier Communications Parent, Inc. (NASDAQ: FYBR) (“Frontier” or the “Company”) today announced that its stockholders approved the acquisition by Verizon Communications Inc. (NYSE, NASDAQ: VZ) (“Verizon”) 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.
“Today’s vote demonstrates the strong value of the fiber business we have built over the past four years and our ability to expand access to reliable connectivity for more Americans,” said Nick Jeffery, President and Chief Executive Officer, Frontier. “We look forward to closing this transaction by the first quarter of 2026 and beginning to deliver our premium fiber offering to millions more customers across our combined network.”
