Frontier: Shareholders Should Back Verizon's $20 Billion Offer

A day following a major Frontier Communications shareholder voicing opposition to Verizon's bid for the company (see 2410230054), Frontier is trying to convince others of the merits of the $20 billion offer. The Verizon offer exceeded most analysts' price targets for Frontier prior to the deal, Frontier said Friday in a shareholder presentation filed with the SEC. The Frontier board unanimously concluded the Verizon deal is in the best interest of shareholders, it said.