FYBR Quick Hit: Another Shareholder Voting Against the Deal
This morning, another shareholder, Carronade Capital has come out with a letter urging Frontier shareholders to vote against the deal. Carronade, which owns ~2MM shares of Frontier, has said that the Verizon offer of $38.50 doesn’t represent fair value of Frontier. They believe Frontier has an intrinsic value of at least $48.60 per share on a standalone basis before a fair share of synergies from the transaction.
Verizon Communications is a holding company. Through its subsidiaries, the company provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The company has two reportable segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business). The company's Consumer segment provides consumer-focused wireless and wireline communications services and products under the Verizon brand and through wholesale and other arrangements. The company's Business segment provides, among others, wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services.
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