Glendon Capital Management Voices Concerns Over Frontier Communications’ Sale to Verizon for $38.50 Per Share: An Open Letter to the Board of Directors
Verizon Transaction Glendon Capital Management LP, a private investment firm and one of the largest shareholders of Frontier Communications Parent, Inc. (“Frontier” or the “Company”), has announced its decision to vote against the proposed acquisition of Frontier by Verizon Communications Inc. at the current price of $38.50 per share. Glendon believes that the Verizon Transaction…