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InsideArbitrage Potential Deal Alert: Frontier Communications (FYBR) announces formal strategic review process

  • February 5, 2024

POTENTIAL DEAL DETAILS

StockFrontier Communications Parent, Inc.SymbolFYBR
Date Announced10/17/2023Source Reuters
TypeNews Report

Activist investment firm Jana Partners has built a new position in telecommunications company Frontier Communications (FYBR) and is calling on the third-largest U.S. fiber broadband provider to sell itself.

Frontier Communications Investor Relations

Update(s):

December 4, 2023: JANA Partners, a shareholder of Frontier Communications Parent, Inc. (FYBR) sent a letter to Frontier’s Board of Directors reiterating the urgent need for the Board to immediately engage in a comprehensive review of strategic alternatives to maximize value for shareholders.

February 5, 2024: Frontier Communications (FYBR) said it’s executing a formal strategic review process.

February 5, 2024: JANA Partners issued the following statement regarding Frontier’s announcement,
“We are enthusiastic about Frontier’s continued business momentum and potential for shareholders. We support the Company’s focus and review of all opportunities to unlock shareholder value – and are confident in the Board and management team’s ability to do so.”

 

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.