Press Release: Cooper Investors Issues Open Letter to Board of Directors of Frontier Communications Opposing Acquisition by Verizon

Cooper Investors Issues Open Letter to Board of Directors of Frontier 
Communications Opposing Acquisition by Verizon 
 
 
   PR Newswire 
 
 
   MELBOURNE, Australia, Oct. 15, 2024 
 
 
   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. $(FYBR)$ ("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. 
 
 
    View original 
content:https://www.prnewswire.com/news-releases/cooper-investors-issues-open-letter-to-board-of-directors-of-frontier-communications-opposing-acquisition-by-verizon-302276473.html 
 
 
 
   SOURCE Cooper Investors 
 
     /CONTACT: Cooper Investors Pty Limited, engagement@cooperinvestors.com; Media: The Civic Partnership, Mark Hawthorne, mark.hawthorne@civicpartners.com.au 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

October 15, 2024 09:27 ET (13:27 GMT)