Daily Bulletin

  • Written by PR Newswire Asia - Daily Bulletin Au RSS

Expresses Concern that $38.50 Offer Price Significantly Undervalues Frontier and Fails to Reflect Value of Anticipated Synergies

Believes Frontier's Standalone Value is up to 62% Higher than Offer Price and Fair Transaction Value Would be up to 94% Higher than Offer Price

Confident Frontier Remaining as a Standalone Public Company is Optimal Outcome for Stockholders

Urges Frontier Stockholders to Vote AGAINST the Proposed Transaction

MELBOURNE, Australia, Oct. 15, 2024 /PRNewswire/ -- Cooper Investors Pty Limited (together with its affiliates, "Cooper Investors"), an Australia-based global investment manager and significant stockholder of Frontier Communications Parent, Inc. (NASDAQ: FYBR) ("Frontier" or the "Company"), today 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 Communications Inc. for $38.50 per share (the "Proposed Transaction").

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, 2024.

The full text of the letter can accessed at the following link: Letter to the Board

About Cooper Investors

Cooper Investors is an Australia-based, employee-owned and operated global investment manager founded in 2001. The firm manages approximately $7 billion on behalf of families, charities, foundations, endowments and institutions.

THIS IS NOT A SOLICITATION OF AUTHORITY TO VOTE YOUR PROXY. DO NOT SEND US YOUR PROXY CARD. COOPER INVESTORS IS NOT ASKING FOR YOUR PROXY CARD AND WILL NOT ACCEPT PROXY CARDS IF SENT. COOPER INVESTORS IS NOT ABLE TO VOTE YOUR PROXY, NOR DOES THIS COMMUNICATION CONTEMPLATE SUCH AN EVENT.

Authors: PR Newswire Asia - Daily Bulletin Au RSS

Read more https://www.prnasia.com/story/archive/4531160_CN31160_0

Business News

Tips from Organisational Change Management Experts for Leading Successful Transitions

Corporate evolution has accelerated dramatically in today's volatile business environment, requiring leaders to develop sophisticated approaches to managing workforce transitions across technologica...

Daily Bulletin - avatar Daily Bulletin

Cross-Continental Collaboration: Nutifood and Viplus Dairy to Create Australian- Standard Premium Dairy Brand

Vietnam’s Nutifood has officially entered a strategic partnership with ViPlus Dairy, a heritage-rich dairy manufacturer with over 130 years of experience in Gippsland, Australia, to establish an int...

Daily Bulletin - avatar Daily Bulletin

Beyond the Marker: How Modern Whiteboards Drive Team Collaboration

In an age where flexibility and innovation define competitive advantage, the humble whiteboard has undergone a transformation. From static office fixture to dynamic collaboration hub, modern whiteboar...

Daily Bulletin - avatar Daily Bulletin

LayBy Deals