FYBR Quick Hit: Glendon Letter Confirms Intention to Vote Against the Deal
Glendon Capital, which owns ~10% of Frontier’s shares have issued a letter this morning stating that they will be voting against the deal at the current price. This is the third shareholder to publicly express opposition. We expect more similar announcements in due course. We have been recommending investors vote against the deal at $38.50. Here is our comprehensive analysis of what we think the asset is worth to Verizon and what Verizon can afford to pay,
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