Reported about 2 months ago
Verizon's proposed $9.6 billion acquisition of Frontier Communications is under scrutiny from significant shareholders, with Glendon Capital Management, holding nearly 10% of Frontier, planning to vote against the deal due to concerns over the low offer of $38.50 per share. Another investor, Cerberus Capital Management, which owns 7.3% of Frontier, also believes the valuation is inadequate. Some analysts suggest that Verizon should raise its offer to at least $67 to secure approval from investors ahead of the shareholder vote scheduled for November 13.
Source: YAHOO